Samsung Total to produce gas oil for export

South Korea’s Samsung Total Petrochemicals will produce gas oil from June, and aims to export the oil product, company sources said. The petrochemical producer will invest 50-60 billion won (US$42.66-US$51.19 million) for facilities to blend sub-products from its 850,000 ton per year naphtha cracker, giving a 500,000-ton annual production capacity of gas oil, they said. “We aren’t entering the refining businesses, but we will focus on energy and related value-added businesses,” said a source at Samsung Total. (December 28, 2009)