S-Oil signs $3.7 bil. deal with SABIC for polyethylene exports

S-Oil signs $3.7 bil. deal with SABIC for polyethylene exports

S-Oil Corp., Korea's third-largest oil refiner by sales, said Monday it has signed a 5.5 trillion won ($3.7 billion) agreement with Saudi Basic Industries Corp. (SABIC) to cooperate on exports of polyethylene (PE) products. Under the five-year deal, which runs through December 2030, SABIC will handle the global marketing of PE products produced by S-Oil, the company said in a press release. SABIC is an affiliate of Saudi Aramco, which holds a 63…