S. Korea seeks to tap crude oil stored by foreign refiners: lawmaker

South Korea is moving to exercise its rights to tap crude oil reserves stored in the country's oil terminals by foreign oil firms to cope with the volatility caused by the situation in the Middle East. According to Rep. Ahn Do-geol of the ruling Democratic Party of Korea on Tuesday, the government has initiated coordination with undisclosed foreign refiners over the rights to purchase oil stored in South Korea. According to Ahn, up to 6.86 million barrels of oil could be secured based on South K

By The Korea Herald