South Korea's downstream focus has been on refining and petrochemical integration. The most capital-intensive project was S-Oil's Residue Upgrading Complex (RUC) and Olefin Downstream Complex (ODC) project. The $4.5-B project, built at the company's 669,000-bpd Ulsan refinery was inaugurated in mid-2019. The project's scope included the modernization and expansion of the refinery's processing units to convert heavy hydrocarbons into high-value fuels and olefins. The RUC will produce raw materials that will feed into the 705,000-tpy ODC. The ODC will process this material to produce 300,000 tpy of propylene oxide (PO) and 405,000 tpy of PP.
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