Companies put their heads together to face global oil crisisSK Innovation met with JX Energy, a leading energy company in Japan, to cooperate on the recent crisis in the oil refining and petrochemical industries, the company said on Sunday. The company said its CEO Chung Chul-khil, as well as the heads of other affiliates, including SK Energy and SK Lubricants, met the heads of JX in Tokyo on Friday to share information on how they will respond to the slumping industry. They are running two joint ventures, including the Ulsan Aromatics Corporation.
“The company reported a fine score sheet in the first half, but I think it is only temporary,” Chung said. “We will have more difficulties in businesses due to several conditions, including unstable international oil prices and declining global demand for oil. It means that we should find new solutions to overcome the crisis.”