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<Commodity> S Korea Official: Country Close to Securing Crude Oil Supply Agreement with Kazakhstan
Kim Jeong-gwan, Minister of Trade, Industry and Energy of S Korea, said in an interview with Korean Broadcasting System that S Korea is close to reaching a crude oil supply agreeme...
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<Commodity> S Korea Official: Country Close to Securing Crude Oil Supply Agreement with Kazakhstan
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Kim Jeong-gwan, Minister of Trade, Industry and Energy of S Korea, said in an interview with Korean Broadcasting System that S Korea is close to reaching a crude oil supply agreement with Kazakhstan. He noted that negotiations have made considerable progress and that specific volumes and details are expected to be announced early next week. He added that the time required to import from Kazakhstan is similar to that from the US, at around 50 to 60 days.

Earlier this month, Kim Jeong-gwan traveled to Kazakhstan with Kang Hoon-sik, Chief of Staff to the President of S Korea, to secure supplies of crude oil and naphtha.

S Korea relies almost entirely on energy imports, with 70% of its crude oil sourced from the Middle East. (fc/da)



This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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