S.Korea firms to invest $12 bln in oil, gas development next yr -gov't - Reuters

By
Viraj
on December 21, 2011 7:33 AM | | TrackBacks (0)
SEOUL, Dec 21 (Reuters) - Over 50 state-run and private firms in South Korea, heavily dependent on energy imports, plan to invest a record-high combined $11.8 billion next year to develop oil and gas resources, the ministry of knowledge economy said on Wednesday.

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The world's fifth-largest crude oil importer and second-largest liquefied natural gas (LNG) buyer has been boosting overseas resources development as like regional peers it grapples with inflation driven by costlier energy and commodities. The total investment, almost all of which will be made overseas, would be a 34 percent increase from the estimated $8.8 billion invested this year, the ministry said in a statement.

S.Korea firms to invest $12 bln in oil, gas development next yr -gov't - Reuters

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This page contains a single entry by Viraj published on December 21, 2011 7:33 AM.

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