South Korea's S-Oil gets boost in bonded bunker sales
South Korean refiner S-Oil has seen a 20,000 metric tonne (mt) per month increase in its bonded bunker sales thanks to new storage tanks at Onsan that it started to use in November, Platts report.
S-Oil's sales of the tax exempt fuel was said to have previously been between 150,000 and 160,000 mt per month. The refiner is using 6,000-10,000 kl of 100,000 kl of new tank capacity at Onsan that began operating in November.
The new tanks are owned by Onsan Tank Terminal, itself said to be owned by a consortium of Japanese and South Korean companies, with Japanese oil trader Nakagawa Bussan, South Korean city gas supplier Yesco, and South Korean LPG supplier E1 collectively owning almost 85%.
Last week fellow South Korean refiner Hyundai Oilbank (Hyundai) was said to be looking to increase its domestic bunker sales in the country.
