28 March 2013 06:34 [Source: ICIS news]
SINGAPORE (ICIS)--South Korean oil refiner S-Oil plans to shut its 500,000 tonne/year Group III base oils plant at Onsan in South Korea in mid-April for a one-month turnaround, a company source said on Thursday.
The company will also change the plant’s catalysts during the shutdown, the source added.
S-Oil will largely be able to fulfill only its contractual commitments during the plant’s turnaround, according to the source.
In view of the reduced output, S-Oil has raised its offers of April-delivery Group III base oil exports by $30-50/tonne (€23-39/tonne) FOB (free on board) South Korea, the source said.
S-Oil is expected to shut its 1.02m tonne/year Group II base oil plant at the same site in July this year for one month of turnaround, the source said, adding that the actual schedule has not been confirmed.
($1 = €0.78)
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