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Construction is under way for S-Oil's $7 billion Shaheen petrochemical project in Ulsan (Credit: S-Oil)

Ulsan, South Korea – February 17, 2025 – S-Oil, a leading South Korean refiner, has announced that its $7 billion Shaheen petrochemical project in Ulsan has reached 55% completion in engineering, procurement, and construction. This major initiative, featuring one of the world’s largest integrated steam crackers, is on track for mechanical completion in the first half of 2026, with commercial operations starting in the second half. Utilizing thermal crude-to-chemicals (TC2C) technology developed with Saudi Aramco and Lummus Technology, the project will produce 1.8 million tons of ethylene annually, doubling S-Oil’s petrochemical output to 25% and boosting South Korea’s economy with up to 17,000 jobs during peak construction.

#soil  #aramco  #lummus  #southkorea  #korea  #shaheen  #tc2c  #crudeoiltochemicals  #oiltochemicals  #steamcracking  #ethylene  #ulsan