SEOUL: Hyundai Oilbank, South Korea's smallest refiner by capacity, plans to raise its run rates to about 90pc from July on expectations of fuel demand recovery, a source with direct knowledge of the matter said on Wednesday.
"From July, run rates are expected at around 90pc," the source told Reuters.
"Currently 410,000-420,000 barrels per day (bpd) of crude is being refined, which is about 80pc."
The source asked not to be named due to the sensitivity of the matter.
A Hyundai Oilbank spokesman said the refiner plans to gradually increase its run rates after it completed its scheduled maintenance in late May.
Hyundai Oilbank runs a 520,000-bpd refinery in the southwestern city of Daesan, along with its 170,000-bpd condensate splitter.
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