Thursday, November 11, 2010

Energy executives share views on greater cooperation

by Nam Kwang-sik

via Yonhap NA, Seoul, Korea
Top executives of domestic and foreign energy companies met in Seoul Friday to seek further cooperation and discuss ways for finding new growth engines, SK Energy Co. said.
During the meeting hosted by the top refiner in South Korea, participants shared the view that global energy market conditions will improve next year, though the global economic outlook is still uncertain, the company said.

Koo Ja-young, president of SK Energy, stressed the need to boost cooperation with Repsol YPF, Spain's largest oil company, in the construction of its fourth lubricant plant.

Credit: Yonhap NA

SK Lubricants Co., a unit of SK Energy, is pushing to build the lubricant plant with a daily production capacity of 13,300 barrels, in Cartagena, southeast of Spain, jointly with Repsol. The completion is set for sometime in 2013.
Koo also exchanged views with Woodside, Australia's largest energy company, on ways to join hands in large-scale liquefied natural gas projects, SK Energy said.
Participants included Woodside CEO Donald Voelte; Arturo Gonzalo, an executive of Repsol; and Sanjeev Verma, executive of India's state-run Indian Oil, SK Energy said.
The foreign executives are among the 120 business leaders from around the world who attended a two-day global CEO summit that ended in Seoul on Thursday ahead of the G-20 summit.