Hyundai to Trafigura Shaking Up Oil Industry as Lines Blur
- Hyundai opens Houston office, Trafigura plans offshore jetty
- Supply chain players becoming more savvy, JTD Energy says
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Hyundai Oilbank Co.’s recent opening of a small Houston office may have been modest in scale, but it was very much a sign of the times.
The refiner became the second South Korean processor after SK Innovation Co. to establish an American presence to potentially buy shale oil directly and charter its own vessels. The move -- aimed at cutting costs by reducing reliance on traders and cargo brokers -- is also emblematic of a wider trend.