S-Oil signs nearly $4-B PE marketing deal with SABIC
According to various news outlets*, S-Oil Corp., South Korea’s third-largest oil refiner by sales, has signed a five-year, 5.5 trillion won ($3.7 billion) agreement with Saudi Basic Industries Corp. (SABIC) to cooperate on the export of polyethylene (PE) products. Under the deal, which runs through December 2030, SABIC will manage global marketing of PE produced by S-Oil.
The products will come from S-Oil’s new petrochemical plant now under construction in Korea. SABIC is an affiliate of Saudi Aramco, which owns a 63.4% stake in S-Oil, reinforcing the strategic partnership.
The PE facility is part of S-Oil’s 9.26 trillion won Shaheen project, a large petrochemical complex being built next to its existing refinery in Ulsan. Operations are scheduled to begin in late 2026, with the complex set to produce key petrochemicals such as ethylene, propylene and butadiene.
*https://www.koreaittimes.com/news/articleView.html?idxno=150766
Comments