Korea National Oil Corporation (KNOC) is the national oil and gas company of South Korea and one of the most important industrial companies in the country. The company operates oil and gas fields in Vietnam, Libya, Peru, Indonesia, Nigeria, Yemen, Kazakhstan, Russia, Canada and South Korea.
The company has oil reserves of around 600 million barrels (95,000,000 m3) and gas reserves of 10 billion m3.
On 26 September 2008 KNOC signed a deal with the Kurdistan Regional Government where KNOC was granted rights to explore and drill on several sites in the Iraqi Kurdistan in exchange for valuable support on a range of infrastructure projects.
In 2009, the company purchased Harvest Energy Trust, along with its subsidiary North Atlantic Refining and its refinery in Come By Chance, Newfoundland and Labrador.
On 2 July 2010 KNOC confirmed preliminary discussions regarding a possible cash offer for the entire issued and to-be-issued share capital of Dana Petroleum.
Famous quotes containing the words national, oil and/or corporation:
“The cinema is going to form the mind of England. The national conscience, the national ideals and tests of conduct, will be those of the film.”
—George Bernard Shaw (1856–1950)
“Eat what you can get.
Where’s the salt
in this dump of a village?
And, Lucky Man,
what’s the use
of a salty thing
if there’s no oil in it?”
—Hla Stavhana (c. 50 A.D.)
“What I am anxious to do is to get the best bill possible with the least amount of friction.... I wish to avoid [splitting our party]. I shall do all in my power to retain the corporation tax as it is now and also force a reduction of the [tariff] schedules. It is only when all other efforts fail that I’ll resort to headlines and force the people into this fight.”
—William Howard Taft (1857–1930)