S-Oil Partners with Korean Air to Provide Sustainable Aviation Fuel
- 02-Sep-2024 7:19 PM
- Journalist: Robert Hume
S-Oil, Korea's third-largest oil refiner, announced on Sunday that it has begun supplying sustainable aviation fuel (SAF) for Korean Air's regular flights to Japan. This marks the first instance of a local refiner providing domestically produced SAF for a regular route departing from a domestic airport. The partnership involves S-Oil supplying SAF for weekly flights between Incheon International Airport and Haneda Airport, starting August 30.
This collaboration underscores S-Oil's commitment to evolving into a clean energy provider, aligning with global decarbonization efforts and contributing to a circular economy. S-Oil's Chief Executive, Anwar Al-Hejazi, emphasized the company’s active role in this transition, noting their strategic response to the growing demand for sustainable energy solutions.
To ensure a stable and continuous supply of SAF, S-Oil is considering the construction of a dedicated SAF production facility in Ulsan, located 305 kilometers southeast of Seoul. Ulsan is home to S-Oil’s only oil-refining facility, making it a strategic location for expanding SAF production capabilities.
In April, S-Oil became the first local refiner to receive international certification from Control Union, a global certification body, for domestic SAF production. This certification positions S-Oil at the forefront of the local SAF market, enabling the company to meet the rising demand for sustainable fuels in the aviation industry.
S-Oil’s majority stake is held by Saudi Arabia's state-controlled Aramco, which owns 63.4 percent of the company. This connection further strengthens S-Oil’s capacity to innovate and lead in the clean energy sector, particularly in the production and supply of SAF.
This initiative reflects a significant step forward in Korea's efforts to promote sustainable aviation practices, with S-Oil playing a crucial role in driving this change. As the demand for cleaner energy solutions continues to grow, S-Oil’s efforts to expand SAF production and supply are expected to contribute significantly to the reduction of carbon emissions in the aviation industry.
S-Oil Corporation, a leading petroleum and refinery company based in Seoul, South Korea, was founded in 1976 as the Iran-Korea Petroleum Company. The company specializes in the production of petroleum, petrochemicals, and lubricant products, serving a wide range of industries. Over the years, S-Oil has grown into a key player in the energy sector, consistently expanding its capabilities and product offerings. The company operates facilities within the Onsan Industrial Complex in Ulsan, where it produces lube base oil and petrochemical products and manages crude oil refining operations with a capacity of 669,000 barrels per day.