SK Global Chem aims Sinopec JV -SK Innovation CEO

SK Global Chem aims for Sinopec JV -SK Innovation CEO

4:51 PM, 7th June 2011
SK Global Chem aims for Sinopec JV -SK Innovation CEO

SEOUL, SOUTH KOREA: South Korea’s SK Innovation said on Thursday its SK Global Chemical subsidiary aimed to hold a 35 per cent stake in the Wuhan petrochemical project by Asia's top refiner Sinopec Corp. “We will apply for Chinese government approval for a joint venture with Sinopec for the Wuhan project within the first quarter, and we aim to hold a 35 per cent stake,” Jay Koo, President & CEO of SK Innovation, told reporters.

Separately, Koo said it had been in talks with partners, mainly overseas, over possible investments or stable supply of feedstock including crude oil to subsidiary SK Incheon Oil, but had no plans to sell the crude oil refiner.

South Korea’s top oil refiner SK Energy in January spun off its oil refining and chemical businesses and renamed itself SK Innovation.

© Thomson Reuters

 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


KBR awarded contract by Tianji Coal Chemical Industry Group Co, Ltd

HOUSTON, TEXAS: KBR recently announced that it was awarded a contract by Tianji Coal Chemical Industry Group, Co, Ltd (Tianji) to provide licensing ...

Read more
Showa Denko KK reports positive guidance for next year

  TOKYO, JAPAN: Showa Denko KK reported consolidated earnings results for the year ended December 31, 2010. For the period, the company reported ...

Read more
Lanxess launches new product for fruit juices in US

The new product is a beverage stabilizer made from natural products. This is Lanxesse’s first natural product - Natural Choice, an innovati ...

Read more
Arkema sees rise in demand, reports higher sales

Sales up by 33 per cent EBITDA at € 287 million, x2 compared to previous year and highest ever EBITDA margin at 16.6 per cent 50 per cent inc ...

Read more
BASF’s profits presents optimistic outlook for 2011

Sales of € 63.9 billion (up 26 pc) EBIT before special items of € 8.1 billion (up 68 pc) Chemicals business takes advantage of strong ec ...

Read more
Teaching algae to make fuel

New process could lead to production of hydrogen using bio engineered micro organisms.   CAMBRIDGE, US: Many kinds of algae and cyanobacteria, ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X