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181679
Thu, 05/12/2011 - 09:42
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https://www.oananews.org//node/181679
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GS Caltex starts work on 4th heavy oil cracker
By Nam Kwang-sik
SEOUL, May 12 (Yonhap)-- GS Caltex Co., South Korea's second-largest refinery, said Thursday that it broke ground for its fourth heavy oil processing plant on the country's south coast.
GS Caltex will spend 1.1 trillion won (US$1 billion) to build the plant in Yeosu, 455 kilometers south of Seoul, which will convert heavy oil into transportation fuels like gasoline and diesel, the company said in a statement.
The plant, scheduled for completion in 2013, will process 53,000 barrels of heavy oil per day, boosting the company's daily heavy oil processing capacity to 268,000 barrels and making the refiner the country's largest processor of heavy oil, GS Caltex said.
GS Caltex's ratio of heavy oil processing capacity to total refining facilities will be increased to 35.5 percent from the current 28.3 percent, the company said.
Earlier in the day, GS Caltex held a belated ceremony to mark the completion of its No. 3 heavy oil cracker, built in Yeosu, which started commercial production from December last year.
The third plant can process 60,000 barrels of heavy oil a day, the company said.
Unlisted GS Caltex is an equal joint venture between GS Holdings Corp. of South Korea and Chevron Corp., the second-largest U.S. oil company.
SEOUL, May 12 (Yonhap)-- GS Caltex Co., South Korea's second-largest refinery, said Thursday that it broke ground for its fourth heavy oil processing plant on the country's south coast.
GS Caltex will spend 1.1 trillion won (US$1 billion) to build the plant in Yeosu, 455 kilometers south of Seoul, which will convert heavy oil into transportation fuels like gasoline and diesel, the company said in a statement.
The plant, scheduled for completion in 2013, will process 53,000 barrels of heavy oil per day, boosting the company's daily heavy oil processing capacity to 268,000 barrels and making the refiner the country's largest processor of heavy oil, GS Caltex said.
GS Caltex's ratio of heavy oil processing capacity to total refining facilities will be increased to 35.5 percent from the current 28.3 percent, the company said.
Earlier in the day, GS Caltex held a belated ceremony to mark the completion of its No. 3 heavy oil cracker, built in Yeosu, which started commercial production from December last year.
The third plant can process 60,000 barrels of heavy oil a day, the company said.
Unlisted GS Caltex is an equal joint venture between GS Holdings Corp. of South Korea and Chevron Corp., the second-largest U.S. oil company.
