S-OIL announced the signing of four MOUs with Saudi Aramco to collaborate on alternative energies business. The agreements include cooperation in thermal crude to chemicals technology, research and development on the production of lower carbon future energy and investment in venture capital.
After bringing blue hydrogen and blue ammonia into Korea, both companies are set to explore potential cooperation in building infrastructure to store, supply and utilize the fuels. The firms have also committed to researching and developing import and supply of both fuels as well.
