ameinfo.com 2007/3/6 Blog
Saudi Aramco statement on AOC sale of strategic stake to Hanjin
Energy
The Board of Directors of S-Oil Corporation, an affiliate of
Aramco Overseas Company B.V. (AOC), a subsidiary of the Saudi
Arabian Oil Company (Saudi Aramco), today agreed to sell 31.9
million treasury shares 金庫株, previously owned by Ssangyong
Cement Co. Ltd.雙龍セメント, to Hanjin Energy Co. Ltd., a
subsidiary of the Hanjin Group韓進グループ
incorporated under
the laws of Korea (Hanjin Energy).
Company sources indicated that the total transaction value will
be approximately KRW 2.4 trillion (US$ 2.5 billion).
AOC
invested in S-Oil in 1991 and continues to support the
expansion and the growth of S-Oil. With this new partnership with
Hanjin Energy, the growth of S-Oil will continue.
Saudi Aramco, the parent company of AOC, has long supported
Korea's economic development by providing a reliable and stable
supply of crude oil. As a result, S-Oil has become a symbol of
economic cooperation between the Republic of Korea and the
Kingdom of Saudi Arabia.
Korean Air-Led Group to Buy $2.5 Billion S-Oil Stake
Korean Air Lines Co., the country's largest airline, will become a shareholder in oil refiner S-Oil Corp. as part of a 2.4 trillion-won ($2.5 billion) deal to secure a stable supply of jet fuel.
Hanjin Energy Co., formed last month by Hanjin Group, a conglomerate that controls Korean Air Lines, will buy 32 million shares of S-Oil for at 74,979 won each, the Seoul-based airline said in an e-mailed statement today. That's a 14 percent premium over the closing price of S-Oil, South Korea's third-largest oil refiner.
The agreement may allow S-Oil to build a second refinery and gives Korean Air part of a fuel supplier as the price of jet kerosene has soared 60 percent in the last two years.
Saudi Aramco
The purchase of the 28.4 percent stake would make Hanjin Group the refiner's second-largest shareholder after Saudi Aramco, Saudi Arabia's state-owned oil company, which owns 35 percent. The affiliates will participate in S-Oil's management, justifying the premium offered for the shares, Ryu said.
The final acquisition price may change depending on S-Oil's dividend payout, Korean Air said in the statement.
S-Oil plans to invest 3.6 trillion won to build a second refinery as demand rises in China.
Hanjin Energy, established on March 2, is 82.5 percent owned by Korean Air, 14.6 percent held by Hanjin Shipping and Korea Airport Service has 2.9 percent. All the companies are controlled by Hanjin Group.
Hanjin Group announced yesterday that it will buy a 28.4 percent stake in S-Oil Corp, the nation's third-largest oil refinery, for 2.4 trillion won ($2.55 billion).
They also believe that the stock sale would help S-Oil finance its 3.5 trillion won ($3.7 billion) investment in new refining facilities and pay back its 800 billion won debt.
The company is set to build a 480,000 barrel-per-day crude refinery by 2010 in Seosan, South Chungcheong Province.
The mammoth project would raise its total refining capacity by almost 70 percent to 1.06 million barrels per day, outstripping the 650,000 barrels of the nation's No. 2 GS Caltex Corp.
韓国の石油会社は仁川精油を含め、旧大韓石油公社の流れをくむ SK(SK Corporation). を筆頭にLG-Caltex Oil、S-Oil、現代オイルバンク(Hyundai Oilbank)の5社寡占体制である。
http://www.pecj.or.jp/japanese/division/division07/pdf/2003/2003034.pdf
2008/12/30 Platts
S Korea's S-Oil plans to start building new BTX complex Q1 2009
South Korea's S-Oil Corp.
expects to start construction of its second naphtha-based
aromatics complex at Onsan over the first quarter of 2009, an
industry source said Wednesday.
The new facility will have the capacity to produce 900,000 mt/year of
paraxylene and 280,000 mt/year of benzene. The production is to be exported
to China, Taiwan and Southeast Asia.
About 10% of the design and engineering work has been completed,
the source said. Construction was previously slated to begin by
the end of December. The estimated completion date of the project
is about the second quarter of 2011.
●
‘Surprise visit’ by President Lee to Onsan Refinery Expansion Inauguration with
Minister of Petroleum & Mineral Resources 石油鉱物資源大臣
of Saudi Arabia.
- President Lee expects further growth of the oil refining industry from an
“industry that refines imported crude oil” into an “industry that exports high
value added petroleum products.”
- “The relationship between S-OIL and Saudi Aramco provides a successful
model of economic cooperation and symbolizes friendship between Korea and Saudi
Arabia”
● S-OIL, annual PX production capacity of 1.7
million tons, the world’s largest single train PX plant
- Double production of petrochemical products… $2 billion in extra exports
a year
- S-OIL’s best-in-class competitiveness in refining and lubricants business
stretches to petrochemical business
既存 追加 合計 PX 800 900 1,700 ベンゼン 280 280 560
On Oct. 20th, S-OIL held ‘Onsan Refinery
Expansion Inauguration’ in Onsan Refinery, Ulju County, Ulsan in the presence of
President Lee Myung Bak and other VIPs.
The Inauguration celebrating successful completion of petrochemical production
plant was attended by close to 1,000 Koreans and foreigners among whom included
Saudi Minister of Petroleum and Mineral Resources,
Al Naimi, Ulsan City Mayor, Park Maeng Woo, President of
Saudi Aramco, Al Fallih and Chairman of Hanjin
Group, Cho Yang Ho, both companies of which are majority shareholders of
S-OIL, lawmakers representing Ulsan and representatives of contractors.
2007/3/9 韓国の石油精製 S-Oil に韓進グループが参加 SaudiAramco の関係会社の韓国の石油精製会社 S-Oil は、以前に雙龍セメントが所有していた金庫株 28.4% を時価の14%増しの25億ドルで韓国航空など韓進グループに売却することを決めた。
S-Oilには SaudiAramco の子会社 Aramco Overseas Company B.V. が1991年以降35%出資しており、韓進グループは第二の株主となる。
S-OIL invested 1.3 trillion Won in ‘Onsan
Refinery Expansion Project’ with the vision to secure engine for future growth.
S-OIL’s annual production capacity of PX (raw material for
poly ester) and benzene is 1,700,000 tons and 560,000 tons each, which is
almost double the refiner’s original production capacity, positioning S-OIL into
the one of the most competitive supplier of petrochemical products to the world.
■ World’s largest single train PX plant
Commercial operation of the world’s largest
single train PX plant and its Inauguration set a new landmark in both taking
Korean petrochemical industry’s global status and competitiveness to a higher
level and in further vitalizing bilateral economic cooperation and exchanges in
the private sector based on the principles of promoting mutual benefits between
Saudi Aramco and Hanjin Group as majority shareholders of S-OIL.
In his congratulatory speech, President Lee Myung Bak expected further growth of
the Korean oil refining industry from an “industry that refines imported crude
oil” into an “industry that produces and exports high value added petroleum
products.”
President Lee said that Minister of Petroleum and Mineral Resources of Saudi
Arabia Ali Al-Naimi, who had been the CEO of Saudi Aramco, had decided to make a
large-scale investment in Korea 20 years ago for the first time among Saudi
Arabian companies. He added, “Saudi Aramco, which has made S-OIL what it is now,
is a global company that can do everything in relation to oil, ranging from oil
development to the refining, transportation and sale of oil.” He also said that
Korea and Saudi Arabia could combine mutual strengths and develop global markets
since Saudi Aramco selected S-OIL, a Korean company, as its partner.
Saying that S-OIL is a successful model of economic cooperation between an oil
producer and an oil consumer and symbolizes economic cooperation between Korea
and Saudi Arabia, President Lee hoped that the two nations, which had mutually
complementary industrial structures, would create a more advanced cooperation
model in the future.
In addition, President Lee explained the strengths of Korea that has secured
global competitiveness in the areas of smart grid, energy storage system, and
fuel cell by adopting “green growth” as a paradigm for national growth. And then
he assured that Korea and Saudi Arabia, which has great interest in green growth
despite the world’s largest reserves of natural resources, would be reliable
partners for each other.
Saudi Arabia Minister of Petroleum and Mineral Resources, Al Naimi said in his
congratulatory address, “cooperation between S-OIL and Saudi Aramco is seen as
the most ideal model of economic cooperation between an oil producing country
and an oil consuming country. It is known as the most successful case out of the
many projects that Saudi Arabia has undertaken around the world.” He went onto
say that the ties between S-OIL and Saudi Aramco maintained for more than 20
years is the symbol for friendship of Korea and Saudi Arabia beyond a mere
exchange between the two companies.”
He wrapped up his speech by noting “Korea’s know-how on economic development,
sophisticated technology, people’s confidence and hard-working spirits are
something to learn. I truly hope that today’s Inauguration becomes yet another
turning point for the two countries to emerge as new strategic partners.”
■ Best-in-class competitiveness extending from refining, lubricant business to petrochemical business
Speaking to the audience, CEO of S-OIL, Ahmed
A. Subaey introduced “the new aromatics complex, which produces textile material
capable of producing 3.4 billion pieces of clothes a year, will enrich the lives
of mankind.”
He said that S-OIL has expanded its business domain onto renewable energy solar
PV, thereby proactively supporting the national initiative for green growth.
Subaey CEO went onto an old Korean saying goes “Jang-gwa chin-gu-nun o-rae
mu-geo-ya je-ma-shi-da,” which means “Sauce and friends improve with age” like
the Western’s “Old wine and friends improve with age.” He said “Korea and Saudi
Arabia have long maintained close friendship as old friends. I hope today’s
gathering will serve as an opportunity to deepen mutual partnership.”
■ Extra export generation of U$ 2 billion a year, increased demand from overseas market for considerable period
S-OIL, which enjoys world-class
competitiveness in refining and lubricant business driven by continuous
investment in high value added facilities since 1990s, will be able to witness
increase in profitability generated from Onsan Refinery Expansion Project.
By selling products streaming out of the new plant to overseas markets, S-OIL
expects to add another USD $2 billion to its export revenues a year. Price of PX,
which is the major production from the PX plant, has constantly rose since
bottoming out from $847/ton in July, 2011 to reach record-high of $1,698/ton in
March this year. It has stayed above $1,400 for several months and closed at an
average of $1,675 in Sep.
Since commercial operation in mid-Apr., S-OIL’s 2Q sales in its petrochemical
business achieved 915.6 billion Won in sales and 77.2 billion Won in operating
income, growing by 156% and a whopping 852%, respectively.
An official at S-OIL said “supply volume will not increase in the next couple of
months since it was only very recently that other companies announced PX plant
projects while PX demand in Asia will see a huge growth largely driven by
polyester industry expansion in China. As the most influential PX supplier in
the Asia Pacific region, we will take full advantage of being geographically
adjacent to the global center of demand to become the most competitive
supplier.”
韓国 S-Oil 社へのPP及びPO製造技術ライセンス供与
住友化学は、このたび韓国S-OIL社と、ポリプロピレン（PP ）および プロピレンオキサイド（PO ）の製造技術をライセンス供与することで合意し、契約いたしました。
S-OIL社は 、韓国の蔚山市に日量66 .9万バレルの能力を持つ石油精製コンビナートを有し、 燃料、潤滑油および石油化学製品を主に生産しています 。同社は、本年9月に重油を活用する日量7.6 万バレル規模の流動接触分解設備を導入し、高品質ガソリ ンとプロピレン誘導品の生産設備を建設するプロジェクトへの投資を決定しました。新たに生産される誘導品は、住友化学が独自に開発した技術を採用する年産40 .5万トンのPP 、年産30 万トンの PO などで、 2018 年前半に完工の予定です。
住友化学のPP
製造技術は、当社千葉工場における運転実績に加えて、シンガポールなどの関係会社を含めた海外の企業にもライセンス供与し、多くのプラントで長期にわたる運転安定性を示し、高品質な製品を製造してきた実績があります。
また、PO 製造技術は、当社が世界で初めて工業化に成功したクメンを循環利用するクメン法PO単産プロセスで、併産物がなく
、独自に開発した高性能なエポキシ化触媒と組み合わることにより、高収率で運転安定性に優れていることが特徴で、当社千葉工場やサウジアラビアの関係会社の運転実績があります。
下記の通り、S-OilはSaudiAramco の子会社。
住友化学とAramcoとのJVのPetro Rabigh の第一期では、単産プロセスのPO 20万トン、PP 70万トンを生産している。
住友化学は、今後も革新的な技術を開発し、技術ポートフォリオの拡充による競争力強化を目指すととも に、ライセンス活動を通じて、当社が長年の経験で培ってきた技術をグロ ーバルに展開していくことで、世界の石油化学産業の発展に貢献してまいります。
＜S-OIL社の会社概要＞
設立： 1976 年
本社： 大韓民国 ソウル市
主な株主： アラムコ・オーバーシーカンパニー（AOC） 63.4%
S-Oil は1976年にKorea-Iran Petroleum Co., Ltd.として設立された。
第一次石油ショックで原油の安定購入が韓国の第一の課題であった時に、 双龍セメントがイラン国営石油会社（NIOC）との50/50 JV設立に成功した。1978年のイラン革命で、イラン側が撤退し、1980年に双龍精油（Ssangyong Oil Refining）と改称した。
1987年に上場。1991年にAramco Overseas Companyが3億9500百万ドルを出資して35%を取得、20年間の原油供給を約束した。
（現在のS-OilのCEOはSaudiAramcoの米国法人のCEOであったAhmed A. Al-Subaey 氏。）1999年12月には、双龍セメントの持株 28.4%を自社株として買収し、双龍グループから法的に独立し、2000年3月に双龍精油からエスオイルに社名を変更した。
温山に製油所を持つ。
製油能力は 日量580千バレルであったが、コンデンセート凝縮装置を入れ、669千バレルとなった。S-Oilは10月20日、温山で1系列で世界最大のパラキシレン工場の竣工式を開催した。
商業生産は2011年6月に開始している。2011/10/28 韓国S-Oil、1系列で世界最大のパラキシレン工場の竣工式を開催
S-Oilには SaudiAramco の子会社 Aramco Overseas Company B.V. が1991年以降35%出資している。
（SaudiAramcoは日本では昭和シェル石油に15%の出資をしている。
2004年に50%株主のシェルから10%分の譲渡を受け、2005年に更に5%分を購入した。）S-Oil は2007年に、双龍セメントから買い取って金庫株としていた 28.4% を（時価の14%増しの）25億ドルで韓国航空など韓進グループに売却した。
韓進グループは本買収のため、2007年3月に韓進エネルギーを設立した。
グループの韓国航空が82.5%、韓進海運が14.6%、韓進空港サービスが2.9%出資した。S-Oilと韓進エネルギーは戦略的投資協定を締結、エネルギー運送及びマーケティング分野においてシナジー効果を生んだ。
2007/3/9 韓国の石油精製 S-Oil に韓進グループが参加
Aramco Overseasは2014年、韓進グループからS-Oil の28.4%を19.5億ドルで買収し、持株比率を現在の63.4%にした。