Korea's oil production slides 1.1% during Jan - Nov 2008 period

Korea has witnessed a decline in oil production during 11-month period from January to November 2008, a press release issued by Korea National Oil Corporation (KNOC) said. As per the statement, oil production recorded for the period totaled 860.2 mln barrels, dipping 1.1% year-on-year. The worsening in domestic demand for the period - mainly led by petrochemical industry's downturn and curbs in naphtha production - is attributable for the decline of oil production. In addition, the input of B-C to heavy oil upgrading facilities increased in Korea, its production came down from the same period last year. However, the exports of petroleum products saw increased during Jan - Nov 2008 period, the release confirms.
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