While US President Trump was calling on Asian oil importers to contribute to financing securing the Strait of Hormuz (MEES, 28 June), a top-level Saudi delegation was preparing to visit South Korea. Crown Prince Muhammad bin Salman and Saudi Aramco CEO Amin Nasser arrived in Korea for the 26 June inauguration of new petrochemicals facilities operated by S-Oil, in which Aramco holds a 63.4% stake.
S-Oil operates a 669,000 b/d refinery at the port of Onsan, where the petchems units will be installed. The inauguration was for a residue upgrading and olefins complex at the Onsan refinery, which will increase the refinery’s propylene and gasoline output by an undisclosed amount. (CONTINUED - 221 WORDS)