SEOUL: South Korea’s Hanwha Total Petrochemical Co Ltd has won a tender to supply 1.2 million barrels of gasoline a year for two years after the tender was passed on earlier this month due to a single offer, a spokesman at Korea National Oil Corp said.
While the spokesman declined to elaborate on details including prices, the supply is set for the period between Sept. 1, 2015 and Aug. 31, 2017, he said.
The KNOC and the National Agricultural Cooperative Federation jointly sought the fuel to help some of their low-cost gas stations that sell more cost-competitive fuel than stations run by the refiners. The government hopes this will help keep a lid on inflationary pressures.
