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Chemical Week Magazine :: New Construction Projects

S-Oil to diversify portfolio with olefins unit

12:00 PM MDT | August 18, 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 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 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 centers...

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