Eco-Friendly ingenuities are motivating huge growth in the industry of plant-based plastic packaging market. The industry is chiefly driven by eco-friendly characteristics of these plastic. North America is foretold to be the utmost reve…
BMI View: South Korea will remain a prominent player in the global fuels market, supported by a large
and highly sophisticated refining and petrochemicals sectors. Nonetheless, a negligible upstream industry
will render the country dependent on crude oil and natural gas imports from international suppliers
throughout our forecast period to 2025.
Latest Updates & Key Forecasts
? South Korea produced 576.1mn bbl of refined products (equivalent to 3.1mn b/d) over H116, a 5.0%
increase y-o-y, as low fuels prices helped to boost consumption for certain fuels in the domestic and
regional markets. In particular, gasoline demand growth in the Asian emerging economies helped to
support South Korea's exports to these countries.
? June crude imports were up 4.9% on year, on higher off-take from Iran and the commencement of new
trades with Nigeria, Oman and Gabon.
? Qatar retained its position as South Korea's top LNG supplier, accounting for more 50.0% of the market
share in Jun 2016.
? The country is targeting to provide LNG bunkering services to ships by 2017, starting with the city of
Tongyeong. The effort is spearheaded by a consortium of 21 public-private firms.