South Korea is set to receive a record volume of Norwegian crude of close to 20 million barrels for the full year 2021 as major refiners extend efforts to reduce their carbon footprint from feedstock procurement by fixing regular shipments of carbon-neutral Johan Sverdrup crude oil. Asia’s fifth biggest crude importer received 14.9 million barrels .
South Korea hydrogen ecosystem grows rapidly. Hyundai Motor, the only automobile manufacturer produces hydrogen electric vehicles (HEVs), will release hydroge
South Korea’s crude oil imports in October rose 1.9% from a year earlier, reflecting the country’s rising refinery run rates as Seoul rapidly eases COVID-19 restrictions, while major refiners plan to actively purchase spot cargoes from non-OPEC producers amid tight Middle Eastern supply. The world’s fifth-biggest crude importer received 11.419 million mt, or 83.7 million .
The government has decided to extend tax incentives for importers of crude oil produced in non-Middle Eastern countries, in a measure to diversity procurement of the key import item, the energy ministry said Monday. The hastily arranged move was put in place due in large part to an acute shortage of diesel exhaust fluid (DEF), .