GS Caltex increases market share

South Korea’s SK Energy saw its domestic market share drop 2.2 percentage points last year in the face of intensifying competition from second-place GS Caltex. According to a report by the state-run oil developer Korea National Oil Corp. (KNOC), SK Energy sold 210.9 million barrels of petroleum products in 2009, a 4% drop from a year ago. The product record by SK Energy decreased because the sale of bunker C oil, naphtha and kerosene dropped even though the sale of gasoline, light oil and jet oil surged. SK’s market share dropped to 27.1% , while GS Caltex increased its share to 24.6%, narrowing their gap by 2.5 points. GS Caltex sold 191.1 million barrels of oil last year, up 0.2% from the previous year, the report by KNOC said. Hyundai Oil Bank, another local oil refiner, saw sales drop 2% to 88.6 million barrels. (June 29, 2010)

echo '