• Most Popular
  • Most Shared

RPT-UPDATE 1-GS Caltex adds capacity, becomes No.3 refinery

Thu Dec 13, 2007 10:05pm EST

Stocks

   

(Repeats to add Update tag to headline) (Adds other refiners, ranking)

Stocks

SEOUL, Dec 14 (Reuters) - South Korea's GS Caltex said on Friday its crude refining capacity has risen 4.6 percent to 680,000 barrels per day (bpd), climbing up a notch to become the world's third-largest refining capacity.

The expansion came with GS Caltex's increase of the capacity of its No.4 crude distillation unit (CDU) to 300,000 bpd from 270,000 bpd.

Up until now, GS Caltex has been fourth on the list, behind top-ranked Venezuela's 640,000 bpd Amuay refiner, which combines with the Cardon refinery to make up the 940,000 bpd Paraguana refining complex.

South Korea's SK Energy (096770.KS) is in second place.

India's Reliance Industries Ltd (RELI.BO), drops to fourth with 660,000 bpd, but is undergoing a $6 billion investment to expand its capacity to 1.24 million bpd by next year.

GS Caltex has also upgraded capacity for its naphtha splitting unit to 90,000 bpd from 72,500 bpd, it said.

GS Caltex is a 50:50 joint venture between GS Holdings and Chevron (CVX.N). (Reporting by Angela Moon; Editing by Valerie Lee)



More from Reuters

Photo

U.S. probing if al Qaeda linked to airplane incident

WASHINGTON (Reuters) - The Obama administration said on Sunday it was investigating whether al Qaeda was involved in a Christmas Day attempt to blow up a passenger jet and sought to head off Republican attacks over its anti-terrorism measures. | Video

A Delta Airbus 330 airliner sits on a runway at Detroit Metropolitan Airport in Romulus, Michigan in this video grab made December 25, 2009. Credit: REUTERS/WDIV TV/Handout

The battle in mid-air

The attraction of bombing airliners means the aviation industry has to be constantly vigilant in its fight against attackers.  Full Article 

A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
Political Risk in 2010:

Don't say we didn't warn you

With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article