Two major South Korean oil refiners plan to keep their respective crude oil processing rates for January unchanged from December levels, an industry source familiar with local refinery operations said on Monday.
GS-Caltex Corp, the country's second-biggest oil refiner, would operate its 650,000-barrel-per-day (bpd) refinery at 640,000 bpd next month, unchanged from December levels, the source said.
Third-ranked S-Oil Corp's January crude runs for its 580,000-bpd refinery would stand at 556,000 bpd, steady to December levels, he added.
The refiners have decided to keep their January crude runs at high levels to meet strong demand heating fuel, which has been boosted by recent cold snaps.