INDUSTRY BRIEFS

10/05/1998
Refining Exxon Corp. and Petroleos Mexicanos signed a crude oil supply agreement, under which Pemex will supply Exxon's 427,000 b/d Baytown, Tex., refinery with 65,000 b/d of heavy Maya crude. Exxon will build a coker and related facilities to enable the refinery to process the crude. Completion of the Exxon funded project is slated for second half 2001. Ssangyong Group, Seoul, plans to sell its 28% stake in Ssang- yong Oil Refining Co. (SORC) by December to help it stay afloat. Ssangyong is talking to several interested parties, but regional analysts believe it will have difficulty finding a buyer because of South Korea's and the region's economic downturn. SORC ope...
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