S-OIL was established in 1976 and cultivated management characteristics with a mobility to match the international generation, and a management strategy for its profit-base to grow as a competitive oil-refining company.
The company has facilities that produce lube base oil, petro-chemical products, and crude oil refining facilities of 669,000 barrels a day in the Onsan Industrial Complex of Ulsan. Based on the Xylene Center, which is the world's largest PX production facility, and the Bunker-C Cracking Center of worldwide standard, the company is establishing itself as a company that leads in environment protection and consumer protection by producing and supplying high quality petroleum products.
S-OIL has successfully operated the world's largest Bunker-C Cracking Center since the middle of 1990s, which was 10 years ahead of other competing companies. Competition and profitability were innovatively increased through the Bunker-C Cracking Center (BCC). Furthermore, the company seeks marketing and production strategies connected to local and foreign market while maximizing efficiency.
Moreover, the company moved away from the existing model in a local oil industry that was recognized as an industry for domestic demand. Instead, the company exported more than 60% of produced items every year by concentrating on entering the overseas market. Now, the company has a leading role in changing to a high value exportation company from the local oil industry.
While maintaining competition obtained from investment, the company promoted an expansion project of the Onsan Factory including 2nd Aromatic Complex to increase profit, and started commercial operation from April 2011. After 3 years of planning, design, and construction, the project was successfully completed, and the company started to possess the groundwork to take a leap as an excellent company with the best competition in the petro-chemistry area in the provision of products from Korea and Overseas.
S-OIL is undergoing a RUC/ODC Project to enter petro-chemical downstream business with the active support of Saudi Aramco. Through the large investment in the RUC/ODC Project, S-OIL will be able to obtain new powers for sustainable growth while also possessing an appropriate business structure to the position of a comprehensive energy company. The successful completion of RUC/ODC, aimed for 2018, will be a foundation for the grand vision of S-OIL as the ‘Most Profitable Comprehensive Energy Company' along with expansion in the petro-chemistry area.
S-OIL has been firm in its position as the leading company in the lubricant market, reforming development and sustainable change after entering the lubricant business.
S-OIL diversified its lubricant portfolio according to market demands, and S-OIL possesses both a lubricant brand with economic feasibility in the form of Dragon, and a high quality lubricant market that is represented in S-OIL 7. S-OIL lubricant product is in charge of the sales and production at S-OIL TOTAL LUBRICANT, established by combining with TOTAL Raffinage Marketing S.A company in 2008.
Saudi Aramco, the world's greatest petroleum company that led the growth of S-OIL as the largest shareholder from the early 1990s, became the single largest shareholder of S-OIL in 2015. Through this, S-OIL gave high reliability to all shareholders. Also, high accessibility was obtained, as the global resource of Saudi Aramco will become a new opportunity for the growth of S-OIL.
S-OIL had promoted the RUC/ODC project to secure a sustainable growth by entering petrochemical downstream business. The RUC/ODC project was successfully completed in 2018 and commenced commercial operation, which will further strengthen the vision of S-OIL as 'The Most Competitive, Creative and Clean Energy & Chemical Company'.
