S-Oil Celebrates 50th Anniversary with Focus on Shaheen Project

CEO Anwar A. Al-Hejazi of S-OIL. (Photos: S-OIL)

To mark its 50th anniversary, S-Oil is boosting its petrochemical competitiveness and accelerating the establishment of a foundation for future growth, centering on the Shaheen Project.

On June 28, in honor of its 50th anniversary, S-Oil announced that the company has grown into a global energy and chemical player through steady investment and management innovation over the past half-century.

Since its founding in 1976, S-Oil has established world-class crude oil refining capabilities based on a single plant, Korea’s only Group I, II, and III lubricating base oil production systems and large-scale petrochemical facilities.

The company has sharpened the competitiveness of its refining-centered business structure through the localization of high-quality lubricating base oils, the pioneering of export markets and investments in introducing new and advanced facilities.

A poster commemorating the 50th anniversary of S-Oil’s foundation.

In particular, in the mid-1990s, S-Oil led competition in introducing new and advanced facilities by building a bunker c cracking center which converts heavy oil into light oil.

In 2011, it expanded its petrochemical business by operating the world’s largest single-plant paraxylene production facility.

Over the past decade, S-Oil has invested more than 14 trillion won to expand its business competitiveness.

In 2018, it began the commercial operation of its residue upgrading complex and olefin downstream complex (RUC & ODC), laying the foundation to expand the proportion of petrochemicals from a refining-centered structure.

This year, S-Oil is approaching the completion of the Shaheen Project which involved an investment of 9.258 trillion won — the largest in the Korean petrochemical industry.

The Shaheen Project is a large-scale petrochemical facility that utilizes crude oil-to-chemicals technology to convert crude oil into petrochemical feedstocks.

It is considered a key investment to boost S-Oil’s cost competitiveness and product competitiveness amidst growing uncertainties in the Korean petrochemical industry due to a restructuring of global supply chains and oversupply from China.

“2026 is a significant year marking the 50th anniversary of S-Oil’s foundation and the completion of the Shaheen Project,” S-Oil CEO Anwar A. Al-Hejazi said.

“Based on the competitiveness and innovative capabilities accumulated over the past 50 years, S-Oil will continue to grow into a competitive and trusted energy and chemical company for the next 50 years.”

Yang Seung-jik, head of sales strategy at S-Oil (right), poses for a photo with Ha Soo-kyung, chairwoman of the Judging Committee at the 2026 National Service Awards Ceremony held on June 24.

Winning Two Prizes at 2026 National Service Awards

S-OIL was selected as the winner in the gas station category for the ninth consecutive year and in the gas station app category for fourth straight year at the 2026 National Service Awards organized by the Institute for Industrial Policy Studies, a leading think tank in Korea, and sponsored by the Ministry of Trade, Industry and Energy.

The National Service Awards was introduced in 2018.

The award program selects outstanding companies, institutions and brands that have contributed to the development of services in various fields.

The judges explained that S-OIL continuously expanded its customer base through customer-centric, differentiated marketing activities and services and increased customer satisfaction by providing customized benefits.

S-OIL is enhancing its friendly brand image through TV commercials featuring the character ‘Gu Do-il,’ SNS marketing that communicates with diverse demographics and experiential marketing utilizing sports and cultural performances.

Additionally, it continues to engage in differentiated activities for customer satisfaction through collaborations with various brands such as Mega Coffee, E-Mart 24 Convenience Stores and the brushless automatic car wash “Washing Day.”

Furthermore, S-Oil is increasing customer satisfaction by providing high-quality products and services, such as Trust-Based Gas Station, where the company guarantees genuine products and accurate quantities, an assistance service for the disabled and other transportation vulnerable groups, and the operation of the Yellow Excellent Service Team (YES Team) which provides experts’ consulting.