Korea National Oil Corp - Company Profile
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Business Description
Korea National Oil Corp (KNOC) is an integrated oil and gas company that carries out the exploration, development and production of oil and gas, and stockpiling of petroleum resources both at domestic and international locations. It also provides oil information through Petronet.
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R&D Overview
KNOC has launched multiple R&D initiatives, including establishing a long-term technology development plan, monitoring emerging technology trends, developing a Technology Road Map, and carrying out Korean government–funded R&D projects to secure key strategic technologies. Through these efforts, the company supports domestic and overseas E&P projects by advancing technical R&D to improve operational efficiency. KNOC is also pursuing eco-friendly new energy initiatives to strengthen national energy security and support Korea’s carbon-neutrality goals. In addition, it is participating in Canada oil sands projects, developing heavy-oil production facilities, and advancing CO2 storage in depleted gas fields and basalt formations. The company is also assessing Korea’s natural hydrogen potential as a future clean energy source. In FY2024, KNOC invested KRW6,638.791 million which decreased 62.7% YoY and stood at 0.18% of total revenue.
Business Segments
Overview
Focuses on exploration, development and production of overseas and domestic resources and sales of crude oil. It has interest in overseas exploration and production (E&P) projects in Libya, Vietnam, Peru, Yemen, Venezuela, the US, Canada, the UK, Kazakhstan, the UAE, and Iraq, among others.
Performance
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Overview
Purchase and lending of oil stockpiles; and management, operation and lending of oil stockpiling facilities. Its stores crude oil, refined oil products (including kerosene, gasoline and diesel) and liquefied petroleum gas (LPG). It has domestic storage bases in Yongin, Seosan, Pyeongtaek, Goksung, Yeosu, Geoje, Ulsan, Guri, and Donghae.
Performance
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Overview
Provides oil information services, and other research services.
Performance
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Overview
Includes distribution of gasoline and gas oil and oil trading. It serves oil refineries, trading companies, and petrochemical companies worldwide.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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