S-Oil CEO Othman al-Ghamdi shared the company’s goal for this year to make all out efforts to start operation of complexes under construction in its Onsan factory earlier this week.

“Please continue to put in best efforts to successfully complete construction and begin operation of the project in the set timeline and budget,” al-Ghamdi said during the New Year Kickoff Meeting.

The oil refiner invested 4.8 trillion won ($4.4 billion) in the mega project to install Residue Upgrading Complex and Olefin Downstream Complex in its factory in Onsan, Ulsan, South Gyeongsang Province, seeking to enhance competitiveness and secure a stable profit system.

Construction of the new complex is expected to finish by April, he added.

Al-Ghamdi also urged employees to pursue S-Oil‘s four key tasks: to fulfill the company’s core values of excellence, passion, integrity, collaboration and sharing; completion and operation of the Residue Upgrading Complex and Olefin Downstream Complex; to bolster competitiveness and safety by utilizing IT technology; and to strive to achieve its Vision 2025. 

By Kim Bo-gyung (lisakim425@heraldcorp.com)