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October 09, 2015 9:04 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. It operates in six segments: Oil and Gas Sales, Petroleum Distribution, Oil Stockpiling, Financing, Drillship Chartering, and Others. The company purchases and sells crude oil; distributes wholesale gasoline and gas oil; and operates discount gas stations. It also imports and exports crude oil and petroleum products; lends and sells stockpile oil; manages, operates, and leases stockpile facilities; and provides financing services for companies engaged in energy and natural resources industries. In addition, the c...

305, Jongga-ro


Ulsan,  681-816

South Korea

Founded in 1979


82 5 2216 2114


82 5 2216 5900

Key Executives for Korea National Oil Corporation

Chief Executive Officer, President and Standing Director
Age: 63
Executive Vice President of Production Group and Standing Director
Age: 56
Senior Executive Vice President and Standing Director
Age: 59
Executive Vice President of Strategy & Planning Group and Standing Director
Age: 58
Executive Vice President of Petroleum Stockpile Group and Standing Director
Age: 56
Compensation as of Fiscal Year 2015.

Korea National Oil Corporation Key Developments

Korean Company Reportedly Bids For Stake In Abu Dhabi Company

Korea National Oil Corporation is understood to be among the companies that have bid for a 5% stake in the new Abu Dhabi Company for Onshore Petroleum Operations Ltd.

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.

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