South Korea's GS Caltex plans Yeosu refinery maintenance in late February
South Korean oil major GS Caltex is planning to shut a portion of its Yeosu refinery, including its largest crude unit, for scheduled maintenance at the end of February.
The maintenance at its 330,000 barrel-per-day (bpd) crude distillation unit (CDU) is expected to last for around 30 days, they said.
This overhaul timeline had been brought forward from mid-March, some of the sources said, probably due to expectations of stronger fuel demand in April.
The refiner is also planning to shut some or cut operation rates at secondary units that produce petrochemicals because of poor production margins, two of the sources said.
A GS Caltex spokesperson said the 2025 maintenance plan is currently being revised and nothing has been confirmed yet.
Traders are expecting that the start of this spring maintenance season in the northern hemisphere will help mitigate the supply glut in some of the fuel markets, including diesel, which could, in turn, support near-term prices and spot premiums.
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