Hyundai Oilbank
Korea’s 1st Private Oil Refining Company
As Korea’s 1st private oil refining company, Hyundai Oilbank has shared Korea’s energy industry development and history for the last half century since its establishment in 1964.
Located on 2.8Mm² (about 850,000 pyeong) of land in Chungnam, Daesan Plant features a total of 390,000 barrels of oil refining capacity, including #1BTX, with a daily capacity of 110,000 barrels; and #2BTX expanded in 1996 with a daily capacity of 280,000 barrels. It also currently runs 10 oil storage centers and 11 shipping centers in major cities throughout the country. It introduced ‘OILBANK’, a gas station brand, in 1994 for the first time in the industry and brought a new sensation into the Light Oil market. Its 2,500 nationwide gas stations provide the finest products and services prioritizing customer satisfaction.
The Finest Oil Refining Facilities in the Industry
Hyundai Oilbank gained the strongest competitiveness when it joined the family company of the world’s best, comprehensive heavy industry company, Hyundai Heavy Industries Co., Ltd., in 2010. It has secured not only the highest advancement rate of the refining facilities in the industry, but it has also dedicated itself in becoming the energy expert with the highest competitiveness by entering the Lube Base Oil market and expanding BTX through a joint business with Cosmo Oil, Japan.
Cosmo Oil
Founded in 1986, Cosmo Oil is headquartered in Tokyo, Japan, and has been successfully operating not only oil refining and sales, but also in Petroleum Development and the Wind Power Petrochemical business. It is among the top oil refining and sales companies. It features oil refining facilities in Sakai, Chiba, and Yokkaich in Japan, and its 400K-barrel daily throughput currently accounts for 11% of total throughput of crude oil in Japan. It also has approximately 2,700 gas stations throughout Japan.
The Oil and Gas Development Industry
and sales of crude oil. Within the Oil and Gas Development industry, it holds 3 subsidiaries in the UAE and Qatar producing 49K barrels of crude oil every day.
Study on Alternative Energy Technology
Cosmo Oil stands out in the research area as well. It built its research institute in Satte (Saitama Prefecture) to support 100 researchers studying technology for the quality improvement of fuel oil, catalysis study, waste and soil pollution processes and alternative energy. It also has offices in 5 cities in Japan, including Tokyo, Nagoya and Osaka, 4 overseas branches (Beijing, Abu Dhabi, Doha, Amsterdam) and 3 foreign corporations (Houston, Singapore, and Seoul). With approximately 7,200 employees worldwide, including Japan, it grows as a reliable energy company with annual turnover of 24 trillion won.
