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March 06, 2015 9:21 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Korea National Oil Corporation

Company Overview

Korea National Oil Corporation, together with its subsidiaries, is engaged in the exploration, development, and production of crude oil and natural gas in Korea and internationally. The company operates in seven segments: Oil and gas, Petroleum business, Refinery, Oil Stockpiling, Financing, Drillship Chartering, and Others. It is involved in the purchase and sale of crude oil. The company also imports and exports crude oil and petroleum products; lends and sells oil stockpiles; manages, operates, and leases oil stockpiling facilities; and provides financing services for companies engaged in energy and natural resources industries. In addition, it is involved in the drillship chartering busi...

57, Gwanpyeong-Ro 212 Beon-Gil

Anyang,  431-711

South Korea

Founded in 1979


82 3 1380 2114


82 3 1387 9323

Key Executives for Korea National Oil Corporation

Chief Executive Officer, President and Standing Director
Age: 62
Executive Vice President of Production Group and Standing Director
Age: 55
Senior Executive Vice President and Standing Director
Age: 58
Executive Vice President of Strategy & Planning Group and Standing Director
Age: 57
Executive Vice President of Petroleum Stockpile Group and Standing Director
Age: 55
Compensation as of Fiscal Year 2014.

Korea National Oil Corporation Key Developments

ADNOC Seeks Final Bids For Emirate's Onshore Fields

Abu Dhabi National Oil Company (ADNOC) is seeking final bids for concessions to the emirate's largest onshore fields by February 10, 2015, said Abdullah Nasser Al Suwaidi, Director General of ADNOC, according to Bloomberg. The offers must match terms of the agreement ADNOC reached with Total SA, Al Suwaidi said at a conference in Dubai. Al Suwaidi declined to say if any more bidders than Total have made final offers and he also declined to specify the terms of ADNOC’s agreement with Total. Other companies ADNOC invited to bid include Inpex Corporation (TSE:1605), China National Petroleum Corporation, Statoil ASA (OB:STL), Eni SpA (BIT:ENI), OJSC OC Rosneft (LSE:ROSN), Occidental Petroleum Corporation (NYSE:OXY), and Korea National Oil Corporation.

State Owned Energy Companies To Sell Overseas Assets Worth 6.3 Trillion Won

Baek Jae-hyun, said on October 26, 2014 that six state-run energy companies are planning to dispose of overseas assets worth approximately KRW 6.27 trillion combined by 2017. Korea National Oil Corporation is going to sell assets worth approximately KRW 2.7 trillion and the amount is approximately KRW 1.43 trillion for Korea Electric Power Corp. (KOSE:A015760), KRW 1.4 trillion for Korea Resources Corporation, KRW 588 billion for Korea Gas Corp. (KOSE:A036460), KRW 143.5 billion for Korea Hydro & Nuclear Power Co., Ltd. and KRW 11.1 billion for Korea Coal Corporation.

Korea National Oil Corporation Announces Executive Changes

Harvest Operations Corp. announced that Mr. Sungki Lee, currently the Senior Manager, Asset Optimization Department at Korea National Oil Corporation has been appointed as a director of Harvest, effective July 31, 2014. Mr. Lee will be replacing Mr. ChangKoo Kang who will move on to a senior management position at Korea National Oil Corporation on the same date.

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