Chemical Week Magazine :: New Construction Projects
S-Oil to diversify portfolio with olefins unit
7:00 AM MDT | August 15, 2014
S-Oil (Seoul) has outlined investment plans under the newly increased ownership of Saudi Aramco, including constructing an olefins complex. Aramco announced earlier this year that it would acquire Hanjinâ€™s 28.4% share in S-Oil for $2 billion, raising Aramcoâ€™s stake in S-Oil to 63.4% and making Aramco S-Oilâ€™s major shareholder. S-Oilâ€™s 669,000-bbl/day refining capacity increases Aramcoâ€™s worldwide total to 4.88 million bbl/day. S-Oil says that, as an Aramco subsidiary, it will have access to Aramcoâ€™s worldwide resources, including eight R&D centers...
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