On the 31st, an official from the Oil Industry Division of the Ministry of Trade, Industry and Energy said, “On the 22nd and 29th, we held two meetings to check the supply and demand of kerosene in winter with the four oil refineries, and check the status of kerosene supply and demand by company and future plans.” “I will try my best to ensure that there is no disruption in the supply and demand of kerosene until February next year through the expansion of kerosene production through process adjustments, and through a process adjustment, while the demand for supply is tight due to the recent cold wave.”
The official said, “To prevent disruption in the supply and demand of kerosene until February of next year, we made sure that the refinery maintains an appropriate operating rate to expand kerosene production.” “In the event of a short-term supply shortage, he requested that the government reserve kerosene rental application promptly proceed.” Added.
The Ministry of Industry interpreted that some refineries made a request to borrow kerosene from the government to respond to the short-term kerosene supply and demand imbalance, and took immediate action through the Korea Petroleum Corporation.
Kerosene is an essential heating fuel for farms with poor electricity and gas conditions. This is because the refinery, whose performance was bad due to Corona, reduced the facility utilization rate to the 60% range and reduced production. Kerosene for aircraft and kerosene for heating are produced at the same time. As the consumption of aviation oil decreased, the production decreased, which affected the supply and demand of fuel for the common people.
The Petroleum Association also explained that the recent disruption in kerosene supply in some regions had a large impact on inventory exhaustion in the oil distribution industry as demand increased due to a sudden cold wave.
The association explained that it would come up with plans in various ways, such as expanding production in order to stably supply kerosene for domestic refineries. If necessary, it plans to work closely with the government to discuss ways to utilize the government’s reserves.
Kerosene is an oil that accounts for 2% of domestic consumption of petroleum products, and is mainly used for heating in homes and agricultural and fisheries sites. Due to the characteristics of heating oil, consumption varies according to the season and demand is concentrated in the winter season.
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