1. INTRODUCTION TO THE INDUSTRY
Oilrefining business began commercial operation of its 1st oilrefinery. It has expanded facilities on two occasions, and today, oilrefining business is a refining capacity of almost 580,000 barrels/day and keeping pace with such achievements, the common oilrefining business operates light oil desulfurizing facilities and gasoline manufacturing facilities. Oil
PETROLEUM REFINING
PETROLEUM REFINING IS THE PHYSICAL, THERMAL AND CHEMICAL SEPARATION OF CRUDE OIL INTO ITS MAJOR DISTILLATION FRACTIONS WHICH ARE THEN FURTHER PROCESSED THROUGH A SERIES OF SEPARATION AND CONVERSION STEPS INTO FINISHED PETROLEUM PRODUCTS.
ISSUES OF THE INDUSTRY
OIL PRICE INCREASED RAPIDLY
-> DID NOT REFLECT THIS PRICE
TO THE PRODUCTS
EXCHANGE RATE ALSO WENT
1. Development of petroleum
Demand is increasing.
Reduce risk of dependence on Middle East.
Development of petroleum
Up stream
Development
Drilling
Production
Down stream
Transportation
Oilrefining
Sale/Market
refining method using charcoal made of naturally grown bamboo,” JINRO set a new record by selling 10 billion bottles in the shortest period of time for the first time in Korea. The same technological strength redefined JINRO’s product quality with CHAMISUL FRESH with 19.8% alcohol content by incorporating the BCA (Bamboo Charcoal Agitation) method and integrating the system into the process.
3.2.The first product (2007 - present)
3.2.1.Main article: Mastretta MXT
Mastretta (est. 1989) first announced production of their MXT through Automóvil Panamericano magazine in May 2007. Even though up to a year will have passed, September 2008 will see the production version of the first ever fully Mexican designed and engineered serial-produced sports car, the Mastretta MXT, an automo