IHS Chemical Week

S-Oil to construct olefins unit

11:24 AM MDT | August 13, 2014

S-Oil (Seoul) has outlined investment plans under the newly increased ownership of Saudi Aramco, including construction of an olefins complex. Aramco announced earlier this year that it would acquire Hanjin’s 28.4% share in S-Oil for $2 billion, raising Aramco’s stake in S-Oil to 63.4% and making Aramco S-Oil’s only major shareholder. S-Oil’s 669,000-bbl/day refining capacity increases Aramco’s worldwide total to 4.88 million bbl/day. S-Oil says that, as an Aramco subsidiary, it will have access to Aramco’s worldwide resources, including eight R&D...

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