South Korea's Yeosu Refinery Operations Back to Normal after Pipeline Leak

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Researched by Industrial Info Resources (Sugar Land, Texas)--Operations at the Caltex Yeosu Refinery on the coast of South Korea are back to normal, after an oil tanker hit some pipelines last month and caused a spill.

The incident occurred on January 31 when a very large crude carrier (VLCC), the Wu Li San, was preparing to berth and hit three pipelines at the Yeosu Crude Wharf No. 2. A pipeline rupture caused a spill of about 164,000 liters (1,031 barrels).

The Yeosu Refinery has a refining capacity of 775,000 barrels per day (BBL/d), but it reduced refining levels 20% for five days following the incident. Refining levels at the second-largest refinery in South Korea are now back to normal.

The VLCC Wu Yi San, which was not damaged in the incident, offloaded 140,000 tons of oil for the refinery on February 13, and 138,000 tons on February 16.

The cause of oil spill is still being investigated, according to reports.

GS Caltex Corporation (Seoul, South Korea) is a joint venture company between GS Group (KRX:078930) (Seoul, South Korea) and Chevron Corporation (NYSE:CVX) (San Ramon, California). It is the second largest refiner in South Korea.

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