S-OIL has signaled a positive start for the new year by advancing its low-carbon new energy business. On the 27th, S-OIL received government approval for a regulatory sandbox to test the processing of bio-based raw materials, such as animal and vegetable oils, through the oil refining process.
This approval will enable S-OIL to conduct a demonstration project over the next two years, processing waste-based bio raw materials like animal and vegetable oils (used cooking oil) within the refining process. The aim is to produce low-carbon biofuels (sustainable aviation fuel (SAF), next-generation biodiesel, etc.) and bio-based petrochemical materials (naphtha, polypropylene, etc.).
Having previously received approval for a sandbox concerning the demonstration of pyrolytic oil from waste plastics in July, S-OIL now expects to kickstart its low-carbon environmentally friendly new energy business with the approval for bio raw materials. S-OIL has been preparing for its new energy initiatives by investing in Allsoo, a waste cooking oil collection company, as part of its raw material procurement strategy.
An S-OIL representative stated, “We plan to adjust the mixing ratios of bio-based materials with pyrolytic oil from waste plastics, evaluating the overall product yield changes and process impacts while increasing the production of eco-friendly products.” He added, “We will pursue international certification (ISCC) for the sustainability of products produced from alternative raw materials, while clarifying the carbon reduction effects and contributing to the government’s green energy policies and low-carbon, circular economy initiatives.”
Lee Sang-jin daedusj@autodiary.kr