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Corporate Governance

Affiliated Companies

S-OIL TotalEnergies Lubricants Co., Ltd.

S-OIL TotalEnergies Lubricants Co., Ltd.

  • S-OIL TotalEnergies Lubricants Co., Ltd. is an unlisted company specialized in lubricants.
    The company sells lubricants at home and abroad by producing finished lubricant products out of the base material, lubricant base oil, supplied by S-OIL.
  • S-OIL newly acquired 50%+1 shares of S-OIL TotalEnergies Lubricants Co., Ltd. according to the Joint Venture contract with TOTAL Raffinage Marketing S.A. on May 8, 2008.

S-internationgl ltd

S-International Ltd.

  • S-International Ltd. was established under the nationality of Liberia on Oct. 30, 1987 to support the import of crude oil and changed its registered address to the Independent State of Samoa on Feb. 9, 2011. Currently, S-OIL has a 100% stake.

S-OIL Singapore Pte. Ltd.

  • S-OIL Singapore Pte. Ltd. is a private limited company that conducts lube trading business to trade base oils produced by Saudi Aramco's affiliates to Europe and Asia market as well as marketing support service business to S-OIL HQ for both refined products and base oils.
  • Established on December 2, 2019.

Mutual ownership relations among affiliates


Status : Category, S-OIL TotalEnergies Lubricants, S-International, North East Chemicals Table
Category Type of investment Share
S-OIL TotalEnergies Lubricants Joint Venture 50%+1
S-International Subsidiary company 100%


On April 1, 2009, the Korea Fair Trade Commission designated S-OIL and S-OIL TotalEnergies Lubricants Co., Ltd. as Business Group subject to Limitations on Cross-shareholding. Accordingly, based on relevant laws and regulations such as Fair Trade Act, S-OIL has been complying with the followings.
  • Ban on cross-shareholding among affiliates (Fair Trade Act Article 9 Clause 1)
  • Prohibition of Provision of Guarantee for Korean Affiliate's Debt (Fair Trade Act Article 10 Clause 2)
  • Duty to report stock ownership and debt guarantee status (Fair Trade Act Article 13)