| 👁 Image | |
| 👁 Image | |
| Company type | Public |
|---|---|
| KRX: 010950 | |
| Industry | Oil and gas |
| Founded | 6 January 1976; 50 years ago (1976-01-06) |
| Founder | SsangYong Group National Iranian Oil Company |
| Headquarters | , |
Key people | Anwar A. Al-Hejazi (CEO) |
| Revenue | 👁 Increase US$34.4 billion (2023) |
| Parent | Saudi Aramco (63.45%) |
| Website | s-oil.com |
S-Oil Corporation (Korean: 에쓰-오일) is a petroleum and refinery company, headquartered in Seoul, South Korea. It was established in 1976 under its original name Iran-Korea petroleum company (Korean: 한이석유). It produces petroleum, petrochemical, and lubricant products. The company was listed as a Fortune Global 500 company in 2009 (Rank 441).
S-Oil's Onsan Refinery in Ulsan, South Korea has a capacity of some 650,000 barrels per day (103,000 m3/d) in 2016.[1]
History
[edit]S-Oil Corporation was founded in 1976 as the Iran-Korea Petroleum Company reflecting early international collaboration. In 1980 Completion of the Onsan Refinery in Ulsan, South Korea, marking its entry into large scale refining. After Iran Revolution Iran's overseas investments wre disrupted, and its stake in the South Korean venture became politically and commercially untenable. In 1980 The company was renamed SsangYoung Oil Refining Company, effectively ending Iran's direct involvement.[2]
Corporate governance
[edit]As of 9 May 2023[update], the Representative Director and CEO is Anwar A. Al-Hejazi.[3]
Ownership
[edit]In 1976-1980 The National Iranian Oil Company (NIOC), under the Shah of Iran, held a controlling major shareholder before breakup.[2] Saudi Aramco bought a 35% interest in August 1991, and increased it to 65% in 2014.[1] The common stock shares are traded on the Korea Exchange.[4]
See also
[edit]
References
[edit]- ^ a b Al-Naimi, Ali (2016). Out of the Desert. Great Britain: Portfolio Penguin. pp. 168–170. ISBN 9780241279250.
- ^ a b "Iran's Investment in South Korea in 1970's Has Become 5th Largest Oil Refinery in The World". Iran Open Data Center. 2022-08-02. Retrieved 2025-10-09.
- ^ "Former Aramco Asia chief becomes S-Oil CEO", The Korea Times, Seoul, 9 May 2023. Retrieved on 9 May 2023.
- ^ "AOC | S-Oil Affiliation". aramcooverseas.com. Retrieved 2016-12-30.
External links
[edit]- Official website
- Business data for S-Oil:
- Companies based in Seoul
- Non-renewable resource companies established in 1977
- Oil companies of South Korea
- Chemical companies of South Korea
- Automotive fuel retailers
- South Korean brands
- Chemical companies established in 1977
- South Korean companies established in 1977
- Companies listed on the Korea Exchange
- Companies in the KOSPI 200
- Petroleum company stubs
- South Korean company stubs