Fire Forces GS Caltex to Shut Down Heavy Oil Upgrading Unit

Reuters, August 10, 2017

South Korea's second-largest oil refinery GS Caltex said that it had shut a heavy oil upgrading unit after it was hit by fire on Thursday morning. The blaze, which is under control, broke out in the heavy oil upgrading unit, or Vacuum Residue Hydrocracker (VRHCR), at GS Caltex's No.2 plant in Yeosu, southwest of Seoul, a company spokesman said. The VRHCR converts heavy oil into more expensive and cleaner fuel such as gasoline.

The spokesman said no injuries had been reported, adding that the cause of the fire and damage to the unit were still being assessed. He said it was too early to tell if there would be any impact on the refinery's operations. GS Caltex, equally owned by GS Energy Corp, a unit of GS Holdings and U.S. oil major Chevron Corp, runs the 790,000 barrels-per-day refinery in Yeosu.

(Reporting by Jane Chung; Editing by Joseph Radford)

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