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Biz News Korea(Eng)
Korea’ s SK Innovation maximizes output capacity to be ready for market recovery
- Collected
- 2016.12.13
- Distributed
- 2016.12.14
- Source
- Go Direct
After the upgrades, the company is now capable of refining 1.115 million barrels of oil a day and yield 2.8 million tons of para-xylene (PX) a year.
The company extended maintenance from the usual eight to nine lines out of its total 21 production lines to 13 facilities this year. SK Incheon Petrochem Co. shut down its production facility for 40 days from mid September for the maintenance work, and its Chinese facility Sinopec-SK Wuhan Petrochemical Co. also underwent repair and upgrade after closing down for 50 days.
As many as 350,000 people, or 8,000 a day, from more than 200 partner companies in Ulsan and Incheon took part in the maintenance work, and no accident occurred during the job, the company said.
“The maintenance work would maximize capacity,” said Lee Hang-soo, executive vice president of SK Innovation. “We are fully ready to meet growing demand next year as the oil market is expected to recover after oil producing countries agreed to cut output,” he added.
Shares of SK Innovation closed Tuesday at 154,500 won, up 0.65 percent or 1,000 won from the previous session.
By Jung Wook
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]