SEOUL - South Korea's Samsung Total Petrochemicals will produce gas oil from June, and aims to export the oil product, company sources said on Monday.
The petrochemical producer will invest 50-60 billion won ($42.66-$51.19 million) for facilities to blend sub-products from its 850,000 metric tons per year naphtha cracker, giving a 500,000-tonne annual production capacity of gas oil, they said.
"We aren't entering the refining businesses, but we will focus on energy and related value-added businesses," said one source, who declined to be named due to the sensitivity of the issue.
Samsung Total is a 50:50 joint venture between Samsung Group SAGR.UL and French oil major Total
The petrochemical producer will invest 50-60 billion won ($42.66-$51.19 million) for facilities to blend sub-products from its 850,000 metric tons per year naphtha cracker, giving a 500,000-tonne annual production capacity of gas oil, they said.
"We aren't entering the refining businesses, but we will focus on energy and related value-added businesses," said one source, who declined to be named due to the sensitivity of the issue.
Samsung Total is a 50:50 joint venture between Samsung Group SAGR.UL and French oil major Total
