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No Changes to Refiner SK Energy Crude Purchases due to Middle East Tensions


SK Innovation Co., owner of South Korea's top refiner SK Energy, said there are no changes to crude purchasing despite the increased pressure from the current Middle East tensions according to Bloomberg.

  • Crude purchase volumes and origins are unchanged according to a spokesman. “We’re monitoring the situation closely to prepare for any spike in costs or for any safety-related issues.”
  • There have however been changes to some timings for vessels transporting SK’s crude cargoes through the Strait of Hormuz.
  • Some routes have also changed after Iran seized a tanker off the coast of Oman with tankers sometimes instructed to sail closer to the UAE or Oman’s waters rather than Iran.
  • Product exports are still going via the Suez Canal to Europe.

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