NEWS
2024.07.29
HD Hyundai Oilbank Exports Blended Marine Biofuel in Comprehensive Bonded Area For the First Time
The officials of HD Hyundai Oilbank and Korea Customs Service are taking a commemorative photo.
HD Hyundai Oilbank (CEO Chu Young-min) announced on July 29 that it would begin to export marine biofuel.
This export is part of the project to support the establishment of a Northeast Asia oil hub. Blending domestic petroleum products in the comprehensive bonded area was previously impossible due to regulations. A regulatory reform by the Korea Customs Service and the Ministry of Trade, Industry and Energy has brought about the first case of blended products being exported.
The marine biofuel being exported is a product blended with HD Hyundai Oilbank’s very low sulfur fuel oil (VLSFO) and biodiesel purchased from a domestic company. VLSFO is a marine fuel with lower sulfur emissions than high sulfur fuel oil (HSFO), which is generally used as marine fuel. It is the first case of marine biofuel based on this being manufactured and sold in South Korea.
- Previous HD Hyundai Oilbank Exports SAF as the First Such Instance in South Korea
- Next HD Hyundai Infracore Wins Order for Demonstrating Hydrogen Engine Generators