Saudi Aramco gives S-Oil big diesel, naphtha contract

Home > Business > Industry

Saudi Aramco gives S-Oil big diesel, naphtha contract

Published: 09 Feb. 2015, 20:18

S-Oil will get help from its largest shareholder, Saudi Aramco, as Korea’s third-largest refiner on Monday said it signed a deal worth 1.2 trillion won ($1.1 billion) with Saudi Aramco Products Trading Company (ATC) to supply diesel and naphtha.

The refiner said it will deliver 28 million barrels of diesels and light naphtha by the end of this year, while receiving 120,000 tons of paraxylene and two million barrels of heavy naphtha from the subsidiary of Saudi Arabia’s state-run oil company.

S-Oil said that since diesel is its biggest product and naphtha is the base material for making other petrochemical products, securing a solid buyer will help its competitiveness in the market.