A preliminary data released from the South Korean Ministry of Trade, Industry and Energy, showed that oil imports reduced 7.5% to 82.7 million barrels in December 2020 compared to 89.5 million barrels in the same month of the previous year.

Saudi Aramco has completed acquiring 17% stakes of South Korea's Hyundai Oilbank from Hyundai Heavy Industries Holdings, for approximately $1.2 billion.

Total and a South Korean oil company are being considered for a partnership in the Duqm Refinery and Petrochemical Industries.

The two companies will expand their reliance on non-metallic materials in a wide range of applied application areas, led by the automotive industry.

Haliba field, located along the southeast border of Abu Dhabi, will produce 4 million barrels per day by the end of 2020.

The agreements were signed with a diverse set of companies that work on ship building, engine manufacturing, refining, petrochemicals, and crude supply, sales, and storage.

Saudi Aramco has agreed to purchase $1.2 billion stake in South Korean oil refiner Hyundai Oilbank.

Qatar plans to order 60 new liquefied natural gas (LNG) carriers from South Korea, Saad Al-Kaabi Qatari Oil Minister said during a bilateral summit for Doha.

The US has granted eight Iranian oil importers temporary waivers from the sanctions set to be imposed upon the country’s energy sector on November 5.

South Korea’s imports of Iranian crude plummeted 86.5% year-on-year (YOY) in August, in anticipation of US sanctions set to take full effect in November.