Posted by probability > 2022-05-21 14:39 | Report Abuse

South Korea’s third-largest refiner may cut gasoline exports, further tightening supply in Asia

https://www.kedglobal.com/energy/newsView/ked202205200014

“The affected plant will be shut down until the root cause is identified and preventive measures are put in place,” Chief Executive Hussain A. Al-Qahtani said, apologizing during a press conference.

https://www.youtube.com/watch?v=9iFQ0BLp4wM

Posted by probability > 2022-05-21 14:54 | Report Abuse

Its the 5th largest refinery in the world

https://www.nesfircroft.com/blog/2021/08/the-6-biggest-refineries-in-the-world

Posted by probability > 2022-05-21 17:13 | Report Abuse

Posted by information > May 21, 2022 4:32 PM | Report Abuse

Asian gasoline cracks scale new heights following Ulsan refinery explosion.

Asian gasoline cracks soared to new highs on Friday after an explosion at a South Korean refinery compounded an already-tight regional supply picture.

Trade Friday saw a 92 RON cargo for loading 20-25 days ahead sold by Total to Vitol at $148.90/b. PetroChina sold 95 RON to Vitol for the same laycan at $157.20/b FOB.

Taken as value, the deals lifted refining margins to Brent to new highs as the 92 RON spot crack to Brent was marked $4.99/b higher at +$38.74/b and 95 RON a massive $8.32/b at +$47.04/b.

The move comes after an explosion at alkylation processing unit of the 580,000 bpd Onsan refinery left eight injured.

Owned by S-Oil, the refinery is the world's fifth-largest and any restriction of supply will put regional import pressure on an already-tight global market.

The jump was seen in the overnight market, with the east-west spread jumping by the European close on Thursday.

It comes against a backdrop of booming products demand, with tight supply as the global economy reopens from the Covid-19 pandemic having driven cracks to record highs even before Thursday’s accident.

Posted by probability > 2022-05-21 17:34 | Report Abuse

S-Oil export to Malaysia, so Hengyuan can be almost certain the same margin

https://www.brecorder.com/news/40174604/gasoline-crack-scales-new-high-on-supply-worries