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Exports of Petroleum Products Jump

News2009-06-29
Exports of Petroleum Products Jump

Domestic oil refineries have seen a surge in exports of their petroleum products despite the global economic slump.

Korea National Oil Corporation said that the overall exports of petroleum products jumped ten-point-seven percent year-on-year to more than 132 million barrels in the first five months of this year.

By item, overseas shipments of gasoline soared 77 percent from the same period last year while those of diesel rose more than 16 percent.

The state-run oil corporation attributes the bullish petro-related exports to high foreign exchange rates and a growing number of importers.

However, it added that in the second half of this year the nation's petroleum product exports will be affected by changes in U.S. demand.

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