Hyundai Oilbank To Add New Crude Oil Processing Units By Late 2021

Hyundai Oilbank, South Korea’s smallest-capacity oil refiner, plans to build a new crude distillation unit (CDU) and a vacuum distillation unit (VDU) by late 2021. The company is planning to build a 200,000-bpd CDU and a 100,000-bpd VDU between the third and fourth quarter of 2021. In May of this year, Hyundai Oilbank had announced a plan to invest 360 billion won ($302 million) to build the new units.

Hyundai Oilbank has a total refining capacity of 690,000 bpd, including its 170,000-bpd condensate splitter in the city of Daesan. (Source: Reuters)

Related Stories

Petrovietnam, Partners Sign PSC for Block Off Vietnam