S. Korea's oil product exports fall slightly in 2009

South Korean oil product exports declined marginally in the first 10 months of this year due to decreased demand and a supply glut in the industry, an industry association said. Overseas shipments of oil products by local refiners, including SK Energy Co., fell 0.31% to 278 million barrels in the January-October period from a year ago, the Korea Petroleum Association said. However, exports of oil products are expected to top 300 million barrels this year for a second year, helped by increasing seasonal demand for kerosene and diesel fuel. In the first 10 months, exports of gasoline rose 42.6% year-on-year to 32.1 million barrels, with those of kerosene nearly doubling to 4.44 million barrels. (December 6, 2009)