[Alpha Biz= Kim Jisun] Seoul – U.S. energy major Chevron is expected to launch large-scale investments in South Korea’s refining and petrochemical sector, according to a September 8 report from Reuters.
At the Asia Pacific Petroleum Conference (APPEC) held in Singapore, Brant Fish, President of Chevron’s International Downstream division, said:
“In some regions, such as Korea, we are making significant investments to upgrade petrochemical and heavy oil facilities. Meanwhile, in places like Singapore, certain refineries are opting for capital efficiency strategies to deliver stronger returns throughout the cycle, rather than pursuing large-scale upgrades.”
Reuters interpreted his comments as a signal that Chevron is preparing to intensify investment in South Korea’s refining and petrochemical industry.
Chevron already maintains a major presence in Korea, holding a 50% stake in GS Caltex through its subsidiaries Chevron Holdings (40%) and Chevron Global Energy (10%).
알파경제 Kim Jisun (stockmk2020@alphabiz.co.kr)
