Hyundai Oilbank signs a long-term supply contract of gasoline and diesel to Hawaii
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Hyundai Oilbank signs a long-term supply contract of gasoline and diesel to Hawaii
  • Kevin Lee 기자
  • 승인 2022.11.03 16:20
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Hyundai Oilbank continues to expand its export territory beyond Asia

Hyundai Oilbank announced on Nov. 3rd that it has signed a contract with SUNOCO, a U.S. petroleum product import and export company, to extend the supply of petroleum products in 2023.

Hyundai Oilbank has established a stable export channel for petroleum products to the U.S. through the extension of the long-term supply contract this time.

Hyundai Oilbank signed a contract with SUNOCO in the U.S. to extend the supply of petroleum products in 2023. Lee Seung-soo, head of Hyundai Oilbank's global business division (right), and Karl Fails, COO of SUNOCO LP, are taking commemorative photos.
Hyundai Oilbank signed a contract with SUNOCO in the U.S. to extend the supply of petroleum products in 2023. Lee Seung-soo, head of Hyundai Oilbank's global business division (right), and Karl Fails, COO of SUNOCO LP, are taking commemorative photos.

Unlike transactions through traders, long-term direct transactions have the advantage of being able to stably sell products under certain conditions.

Lee Seung-soo, head of Hyundai Oilbank's global business division, said, "The extension of the long-term supply contract with SUNOCO is a result of building deep ties and maintaining cooperative relationships even though this year is a first-time transaction."

Hyundai Oilbank continues to expand its export territory beyond Asia, a traditional petroleum product export market such as Singapore and Indonesia. New Zealand, which started trading in 2013, imports more than 7 million barrels a year from Hyundai Oilbank.


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