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Press Release

Inauguration Ceremony of Hyundai Cosmo Petrochemical (HCP)
for the Completion of the New Para-Xylene Production Plant

April 3, 2013
Cosmo Oil Co., Ltd.
Public Relations Office

Cosmo Oil Co., Ltd. (Representative Director and President: Keizo Morikawa), Hyundai Oilbank Co., Ltd. (President and CEO: Kwon, Oh-gap) (hereinafter, HDO) and HCP (a joint venture company between Cosmo Oil and HDO) is pleased to announce that the inauguration ceremony has been held today for the new para-xylene production plant which has been completed 5 months ahead of original schedule and operating smoothly at full capacity.

The new production plant, together with the existing plant, will promptly act to meet the increasing demand of petrochemical products in China and other Asian regions. Furthermore, in addition to the earnings from the petrochemicals business, the domestic gasoline supply/demand balance will improve through the extraction of mixed-xylene from gasoline, which is the feedstock for the new para-xylene plant.

Cosmo Oil and HDO will further enhance the partnership through this business and will continue to seek additional joint businesses and/or partnerships including technical/R&D fields.

<Overview of Inauguration Ceremony>
Ceremony Date Wednesday, April 3, 2013
Venue Daesan Plant, Hyundai Cosmo Petrochemical
(Daesan-eup,Seosan-si, Chungnam, Korea )
Attendees
Cosmo Oil
Yaichi Kimura
Representative Director and Chairman
 
Keizo Morikawa
Representative Director and President
 
Hiroshi Kiriyama
Senior Executive Officer
 
Others
 
HDO
Kwon, Oh-gap
President and CEO
 
Moon, Jong-bak
Senior Executive Vice President
 
Yoo, Jae-bum
Executive Vice President
 
Others
 

<Overview of production plant>
Mechanical Completion Date November 13, 2012
First Shipment Date January 18, 2013
Production Capacity PX: 800 kt/yr, BZ: 120 kt/yr

HCP has a total production capacity of 1,180 kt/yr of PX (including 380 kt/yr from the existing facility) and 250 kt/yr of BZ (including 130 kt/yr from the existing facility)

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