Innovative transition from oil to chemical
S-OIL successfully completed state-of-the-art S-OIL New Complex(RUC & ODC) project, which is the largest in the history of domestic oil and petrochemicals industry, with an investment of 5 trillion won, and started commercial operations in November 2018.
S-OIL New Complex consists of the Residue Upgrading Complex(RUC) and the Olefin Downstream Complex(ODC).
Residue Upgrading Complex reprocesses residues from the crude oil refining process and converts them into high-value-added products such as gasoline and propylene.
Olefin Downstream Complex produces propylene oxide(PO) and polypropylene(PP) by injecting propylene produced from Residue Upgrading Complex. Propylene oxide is a raw material for polyurethane for automotive interior materials, electronic products, and insulation materials. Polypropylene is a type of plastic and is used for various purposes including automobile bumpers.
S-OIL has expanded its business operations based on Olefin Downstream Complex, and has the ability to produce high-value-added high-tech materials that can be applied to automobiles, home appliances, information technology(IT) and biotechnology(BT). In addition, S-OIL produced raw materials with high importation reliability such as propylene oxide in Korea, resulting in stable profits by replacing imports.
S-OIL has made an innovative transition from oil to chemical through RUC & ODC. This will be the cornerstone of S-OIL becoming 'The Most Competitive, Creative and Clean Energy & Chemical Company'.
Leap to become a Global and Excellent Energy Company
In 2023, S-OIL was selected as DJSI World company for 14 consecutive years. It is the first case among oil refinery in the Asia-Pacific Area. At the same time, S-OIL is the only company selected to DJSI World from all domestic oil refinery and petrochemical companies.
DJSI makes its index by selecting only the top 10% companies with possibility of sustainable management through comprehensively evaluating economic feasibility, environment, socialness, and financial performance based on the top 2,500 companies from the world. This assessment is carried out by the U.S., financial information company Dow Jones and Swiss Investment Evaluation Institute SAM. Being a part of this index means that S-OIL received outstanding evaluation for long-term competition.
S-OIL was evaluated to establish and operate management system as a global leading company as a result of the fertility survey composed of △ Economy (financial performance, risk management, ethical management, and brand management), △ Environment (environment report, environment management system), and △Society (Human resource management, labor index, and corporate citizenship). Based on the clarity of management activity and outstanding management structure, the company was acknowledged for its effort and performance in fulfilling the core philosophy of management.
S-OIL leads the business world with respect to competition and profitability, developed current equipment and systems to maintain competition superiority, and the company is currently developing profitability of production facilities through safe factory operation and optimization of operating procedure so that quick and flexible that the change of management environment can be responded to.
S-OIL is expanding its environment-friendly and high-value product production. The company is also developing a clear business management structure and social contribution activities. From an environmental perspective, the company is doing its best to save energy and reduce green-house gas by actively responding to the environmental regulation that satisfies ‘low-carbon green growth’, the international development paradigm.
Through the Haetsal Share Campaign, which is a social contribution activity program, all executives and employees join together to help socially disadvantaged people and also to make a more harmonious society. Furthermore, the company sustainably supports leadership training and systematic career development, while establishing an efficient manpower structure.
S-OIL is moving forward as a global and excellent energy company by demonstrating active leadership in providing new values while exceeding the responsibility and duty that must definitely be maintained by a company.
