GS Caltex Corporation (Korean: 지에스칼텍스 주식회사) is a South Korean Energy and Chemical company jointly owned by Chevron and GS Group. The company was founded in partnership with Caltex in May 19, 1967 as the first private oil company in Korea.[1][2][3] The company changed its name from LG-Caltex Oil Corporation to GS Caltex Corporation in 2005 as part of the GS Group split from LG Corporation.[4]
By 2009, exports accounted for 54 percent of GS Caltex's sales.[5] The company exports petroleum, petrochemical, and lubricant products to 57 countries (as of 2022).[citation needed]
Petroleum: GS Caltex has a daily production capacity of 800,000 barrels (130,000 m3) per stream day. The company operate Korea's largest heavy oil upgrading (HOU) facility (274,000 barrels per day), which produces light oil and premium gasoline. It imports 80 types of crudeoil from around 30 countries including those in the Middle East, Southeast Asia, Europe in addition to the United States and Australia.[7]
Petrochemicals: GS Caltex constructed a polypropylene plant in 1988. That was followed by expansion into the aromatics business in 1990. Currently, GS Caltex has an annual production capacity of 2.8 million tons of aromatics and 180,000 tons of polypropylene. Constructing an Olefins plant (MFC - mixed feed cracker) on the 430,000 m2 site near the Yeosu No.2 Complex. The plant has an annual production capacity of 750,000 tons of ethylene and 500,000 tons of polyethylene.
Base Oil & Lubricants: In November 2007, GS Caltex began base oil production with a capacity of 16,000 barrels (2,500 m3) per stream day. As of 2011, its production capacity reached 26,000 barrels (4,100 m3) per stream day; GS Caltex exports more than 70% of its total base oil production. GS Caltex produces 9,000 barrels (1,400 m3) of lubricants per day and 8,000 million tonne per year of grease products. In 2005, GS Caltex launched its own lubricant brand, “Kixx”. Initially focused on providing engine oil tailored for passenger cars, commercial vehicles, and motorcycles, Kixx expanded its portfolio in 2017 to encompass a broader range of automotive and industrial lubricant solutions.
^Oh, Seong-ik (2023). Overseas Energy Investment of Korea and Japan: How did Two East Asian Resources-Rare Industrial Giants Respond to Energy Security Challenges. Dordrecht: Springer Nature. p. 238. ISBN978-981-99-0284-2.
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