Seoul-South Korean refiners SK Energy and Hyundai Oilbank, which receive 10% to 20% of their crude from Iran, do not expect any major supply disruptions following the latest sanctions against the Middle East nation, but are working on diversifying their sources. “We have been looking to diversify [our] crude import lines [to prepare] for possible disruption of supplies,” an official at the country’s top refiner, SK Energy, said August 9.
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