KNOC sets up JV for Ulsan storage terminal

摘要

Seoul—State-run Korean National Oil Corp., independent tank storage provider Vopak and South Korean refiner S-Oil have signed an agreement to form a joint-venture for building an oil storage terminal in the South Korea’s southeastern coast. The JV will spend Won 622.2 billion ($584 million) to build an oil storage terminal with a capacity of 9.9 million barrels of refined products in South Korea’s southeastern port of Ulsan by 2017, the Trade, Industry and Energy ministry said in a statement Wednesday.