S-Oil said Thursday it has established an ESG committee.
Oil refiner S-Oil reported 344.7 billion won ($309.8 million) in net profit for the year's first quarter, succeeding in a turnaround from the same period last year when it was in the red.
Hussain A. Al-Qahtani, S-Oil CEO, left, poses next to Oh Ji-chul, head of Heart-to-Heart Foundation, at the refinery’s headquarters in Mapo, Seoul, on Tuesday.
S-Oil finished extending its residue hydro-desulfurization unit (RHDS) facilities and initiated operation on March 20 as the oil refining company continues to seek ways to run its business in an eco-friendly way.
S-Oil will ramp up the digitization of its working environment by utilizing drones, camera-equipped helmets and chatbots to improve efficiency and safety.
S-Oil is getting into hydrogen through an investment in a fuel cell business.
S-Oil has donated 150 million won ($134,536) to the Korea National Council on Social Welfare (Kncsw) toward a campaign sponsoring heating oil for 225 households in need of financial support.
S-Oil will invest in a local start-up and earn certified emission reduction (CER) credits worth 13,000 tons a year, the oil refiner said Monday.
From right, S-Oil President Ryu Yul, Mapo Scholarship Foundation President Park Hong-seop and Mapo-gu Office head Yoo Dong-gyun pose after a ceremony held Thursday, in Mapo-gu Office, western Seoul.
Major dividend-paying firms in Korea have decided not to pay interim dividends this year due to tumbling earnings amid the coronavirus pandemic, industry sources said Thursday.