GS Caltex opens Abu Dhabi office

By Kang Seung-woo

GS Caltex opened an office in Abu Dhabi, the United Arab Emirates (UAE) Thursday, said the Seoul-based company that day.

According to the nation’s No. 2 oil refiner, it held the opening ceremony for the office in Abu Dhabi with high-profile guests including its Chairman Hur Dong-soo, Yousef Omair bin Yousef, CEO of Abu Dhabi National Oil Company (ADNOC), and Kwon Tae-kyun, Korea’s ambassador to the UAE.

The office in the UAE’s capital city is the company’s first in the Middle East and the third overall after those in Singapore and London.

“GS Caltex and the UAE have maintained a very close relationship since the mid-1980s. Among the world’s numerous buyers of the UAE’s crude and petroleum products, GS Caltex is the second-largest importer,” Chairman Hur said in the ceremony.

“I hope that the GS Caltex Abu Dhabi Office will further enhance the close economic cooperation with ADNOC and other national oil companies in the Gulf countries as well as the UAE and facilitate the joint development of new opportunities in upstream, refining, petrochemical and green growth businesses.”

GS Caltex, whose crude imports mainly depend on the Middle East, expects the office to secure a stable outlet and reliable partner there in order to sustain economic growth.

GS Caltex plans to sign an agreement with ADNOC with hopes of teaming-up to provide a stable crude supply and serve as a bridgehead for its expansion to new markets because of its proximity to Africa and the Mediterranean.