Key issues in the global energy market include increased volatility in crude oil and refined petroleum product prices, pressure to transition to eco-friendly products, and supply chain restructuring. South Korea's refined petroleum and petroleum product exports accounted for approximately 7.7% of total exports, reaching approximately USD 52.6 billion based on HS27 standards. Korea
's reliance on Middle Eastern and Russian crude oil and global carbon reduction regulations pose risks to its fuel product export structure.
Asia and the Middle East are major export markets, and supply chain and price risks exist.
Country/Region | Strong items | Market characteristics | Implications |
|---|---|---|---|
| Southeast Asia (Vietnam, etc.) | Lubricants and refined oils | Increased demand for industrial and automotive products | Quality strengths of Korean products |
| Middle East | Refined oil and heavy oil | Re-export and trading hub | Price competition risk |
| Russia/CIS | Lubricants/base oils | Oil prices and geopolitics have a significant impact | Risk hedging required |
| East Asia | Refined oil/input | Multiple petrochemical facilities | Possibility of linking with the processing export structure |
Asia and the Middle East are major export markets, and supply chain and price risks exist.
Country/Region | Strong items | Market characteristics | Implications |
|---|---|---|---|
| Southeast Asia (Vietnam, etc.) | Lubricants and refined oils | Increased demand for industrial and automotive products | Quality strengths of Korean products |
| Middle East | Refined oil and heavy oil | Re-export and trading hub | Price competition risk |
| Russia/CIS | Lubricants/base oils | Oil prices and geopolitics have a significant impact | Risk hedging required |
| East Asia | Refined oil/input | Multiple petrochemical facilities | Possibility of linking with the processing export structure |
The production and export potential of fuel and refined products is calculated in tonnes and is significantly affected by facility operating rates and global oil prices.
item | Number/estimate | unit | note |
|---|---|---|---|
| Annual exports (2024) | approximately USD 52.6 billion | USD | Trading Economics based on HS27 |
| Domestic refinery facility operation rate | About 90% | % | Impact of global demand and oil prices |
| Exportable volume ratio | About 60~70% | % | Including domestic sales and domestic distribution |
Fuel and oil products have strict quality and composition standards according to international standards, and compliance with standards is essential for export.
field | Main specifications | note |
|---|---|---|
| Fuel specifications | EN 590, ASTM D975 | Diesel/Gasoline Standards |
| lubricant | API SN/CK-4, ACEA C5 | Automotive and industrial demand |
| petrochemical inputs | ASTM, ISO 8217, etc. | Responding to naphtha and raw material demand |
Exporting fuel products involves quality, environmental, and safety certifications.
division | Certification name | Applicable area |
|---|---|---|
| Quality and Safety | ISO 9001, ISO 14001 | Global |
| Eco-friendliness/Emissions | EU ETS linkage, carbon emissions credits | EU and Global |
| Petroleum product safety | ISO 29001, API certification | petrochemical industry |
Fuel and oil products are typically transported in bulk by ship, and the shipping location, route, and freight rates are directly related to export competitiveness.
Product group | means of transportation | Average lead time | Key Risks |
|---|---|---|---|
| Refined oil and heavy oil | Bulk tanker (VLCC/ULCC) | 20~40 days | Oil price and freight rate fluctuations |
| Lubricants and additives | Drum/IBC container | 10~20 days | Packaging and conversion costs |
| Naphtha/Raw Materials | Pipeline/Bulk Carrier | 15~30 days | Supply risk |
It provides in-depth indicators such as unit price, seasonality, tariffs, and environmental risk, which can be directly used in strategy development.
cord | item | example | conjugation |
|---|---|---|---|
| (A) | Unit price/transaction price range | Estimated average unit price of refined oil is USD 450/ton | Establishing a pricing strategy |
| (B) | Seasonal patterns | Winter heating oil demand peaks in Q4-Q1 | Inventory and logistics planning |
| (C) | Tariff and non-tariff risks | Middle East freight rate fluctuations and carbon tax expansion | Possibility of increased export costs |
| (D) | Domestic alternative industry data | Changes in domestic and export usage rates | Determination of surplus production |
| (E) | ESG·Net Zero | Increasing pressure to transition away from petroleum | Industrial transformation is needed |
| (F) | Country-specific risk index | Middle East instability, freight rates 0.35 | Supply chain diversification |
| (G) | List of major buyers | Large oil refineries in Southeast Asia and the Middle East | Setting sales targets |
Fuel and oil exports are usually transacted in large vessel units, with very large contract units.
Product group | MOQ | unit | characteristic |
|---|---|---|---|
| Refined oil | 1 VLCC or tens of thousands of tons | ton | Targeting large markets |
| Lubricants and additives | 1 FEU container or thousands of tons | Ton/Container | Consider logistics and packaging |
| Naphtha/Raw Materials | 1 set grain line or contract tonnage | ton | Focused on bulk contracts |
We forecast export trends for the next three months, reflecting the recent slowdown in global energy demand, falling oil prices, and strengthening environmental regulations.
segment | ΔExport(%) | ΔPrice(%) | ΔCountryShare(pp) | TrustIndex(0–1) | 3M Forecast |
|---|---|---|---|---|---|
| Refined oil and heavy oil | -1.2% | -3.5% | −0.4pp | 0.62 | Risk of falling oil prices and decreased demand |
| Lubricants and additives | +0.8% | -0.7% | +0.1pp | 0.68 | Maintaining stability in industrial demand |
| Naphtha · Raw Materials | -2.0% | -4.0% | −0.6pp | 0.60 | Reflecting the impact of the slowdown in petrochemical investment |
