S-Oil Introduces Recycled Plastic-Derived Fuel "Joining the Circular Economy"

S-OIL announced on the 30th that it signed a Memorandum of Understanding (MOU) for mutual cooperation in eco-friendly circular economy projects with Daehan Blue Energy Ulsan, a specialized circular resource recycling company, at its headquarters in Mapo, Seoul.

Jung Young-kwang, Head of S-Oil Division (left), is signing a letter of intent for mutual cooperation in the eco-friendly circular economy business with Lee In-hwan, CEO of Korea Blue Energy Ulsan, at the S-Oil headquarters in Mapo, Seoul on the 27th.

Both companies will collaborate to establish a circular economy system that produces and utilizes eco-friendly chemical products from waste plastics that were previously incinerated or landfilled. Daehan Blue Energy Ulsan supplies pyrolysis oil produced by heating waste plastics at high temperatures to S-OIL, which plans to process the pyrolysis oil together with crude oil at its existing refining and chemical plants to produce eco-friendly naphtha, polypropylene, and other products.

S-OIL received approval from the Ministry of Trade, Industry and Energy's regulatory sandbox in July for the introduction of pyrolysis oil derived from waste plastics. Next year, it also plans to obtain certification under the international eco-friendly product certification system (ISCC PLUS).

An S-OIL representative stated, "We will actively promote eco-friendly, circular new energy, and chemical businesses to achieve our vision of becoming an energy chemical company with the highest competitiveness and creativity," adding, "We will also actively participate in the transition to a circular economy that reduces the use of limited resources and minimizes environmental impact."

This content was produced with the assistance of AI translation services.