Korea’s second-largest oil refiner GS Caltex is speeding up its efforts to boost its global competitiveness with state-of-the-art facilities and aggressive investment in oil refining, petrochemical and lubricant sector.
Starting with a daily refining capacity of 60,000 barrels in 1969, the company has expanded its capacity to 785,000 barrels, with a daily production of 279,000 barrels so far.
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A GS Caltex employee works for the export shipping. (GS Caltex) |
It has also raised the aromatics annual production capacity to 2.8 million tons.
Having the export rate surge from 26 percent to 70 percent over the past 14 years, the company won an award from the Korea International Trade Association for reaching $20 billion worth of exports in 2011 and $25 billion in the following year. This was the first time that an oil refiner was awarded the prize.
With offices in a number of countries including Singapore, UK, United Arab Emirates and Mexico, GS Caltex is introducing 80 kinds of oil from 30 countries.
By Lee Hyun-jeong (
rene@heraldcorp.com)
