Company Status

It is one of the most competitive refiners in the Asia - Pacific Region
 
S-OIL, established in 1976, has grown into one of the most competitive oil refiners in the Asia-Pacific region by establishing profitability-oriented management strategies and nurturing dynamic and progressive spirit in the management. The company operates the oil refinery facility with the capacity of 580,000 barrels per day(BPD), and other facilities that can produce petrochemicals and lube base oil in the Onsan Refinery in Ulsan. S-OIL is strengthening its status as a leader in protecting customers and the environment by producing and supplying the best quality oil products based on the world-class Bunker-C Cracking Center(BCC) and the Xylene Center, a PX plant with the world’s highest production capacity for a single facility.

 

S-OIL has been successfully operating the large and advanced BCC since the mid-1990s, more than 10 years faster than its competitors. Based on this BCC, the company has dramatically enhanced its competitiveness and profitability and is maximizing its efficiency by pursuing production and marketing strategies that connect the domestic and overseas markets.

In addition, S-OIL has focused on advancing into foreign markets from early on, shedding the conventional concept of the Korean oil industry as a domestic industry. As the result, it is playing a leading role in turning the Korean oil industry into the high-value-added export industry by exporting more than 60% of its annual production.

S-OIL built the second aromatic complex that can produce petrochemicals, and began its commercial operation in June 2011, to maintain the current competitiveness secured with advanced investment in the refinery and lube sectors and also to increase profitability. By successfully completing the construction work through three years of planning, design, and construction, and delivering high-purity products at home and abroad, S-OIL has built the foundation to develop into a blue-chip company with the largest competitiveness in the petrochemical sector, too.

 

Sustainable Profitable Growth  
 
S-OIL has stably delivered oil products in the Korean and overseas markets based on the reliable crude supply from its partner since 1991, the world’s largest oil company Saudi Aramco. The company also brought the Hanjin Group, a global logistics and transportation player, as its new Korean partner in April, 2007, which gave it an opportunity for a leap forward through strong synergy effects. S-OIL, which is being acclaimed for its successful economic cooperation model between oil producing and consuming nations, is contributing greatly to strengthening the economic collaboration between Korea and Saudi Arabia through its strategic partnership with the Hanjin Group.

7 Strategic Imperatives for Sustainability

In order to realize its vision “the most competitive oil refiner in the Asia-Pacific region,” S-OIL has selected and pursued three clear strategic directions: ‘further investment in the refining business,’ ‘integration with the petrochemical business’ and ‘seeking renewable energy business.’ The company is also on its way to achieving its ultimate mission of “Sustainable, Profitable Growth.”

To this aim, S-OIL has a unique philosophy for sustainable growth that focuses on reflecting various expectations of C.E.O. (Customers, Employees, Owners and Other stakeholders) in management strategies, and sharing the results with all stakeholders to pursue growth. The company has established and implemented the seven strategic imperatives and detailed action plans to consistently fulfill the expectations of C.E.O.

 

   
S-OIL has7 Strategic Imperatives(SI): Enhance Customer-Centric Management, Pursue Best-in-Class Work Environment, Achieve Operational Excellence, Contribute to Society, Follow Global Best Practices of Corporate Governance, Attain Highest Level of Capital Efficiency, Develop Platform for Sustainable Growth. The Strategic Imperatives will be consistently implemented whatever strategic direction S-OIL takes, and they are aimed at maximizing C.E.O.’s values.
   
Fulfilling the expectations of all stakeholders is the reason why S-OIL exists and its mission. S-OIL is making every effort to achieve sustainable growth and contribute to the development of the global community by continuing to overcome changes and challenges in management conditions at home and abroad successfully like it has done for the past 35 years.