S-Oil Corp. seen as likely bidder for land owned by KNOC

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S-Oil Corp. seen as likely bidder for land owned by KNOC

Korea National Oil Corporation (KNOC) is seeking a refiner or a petrochemical maker willing to buy land to build a 5 trillion won ($4.7 billion) refining or petrochemical plant, the state-run oil company said in a public tender document yesterday.

S-Oil, the third-largest Korean refiner, is likely to bid to acquire the land for a refinery or petrochemical plant it has been planning, said a KNOC source who declined to be identified.

Korea media have been reporting that the refiner has been asking the government to help it get land for its project.

An S-Oil spokesman declined to comment on the matter.

Reuters

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