HD Hyundai Oilbank has announced a long-term contract for petroleum product supply with the United States-based SUNOCO Corporation, set to commence next year. This expansion follows the company’s initial export of finished petroleum products to Hawaii in July 2021. Since 2022, HD Hyundai Oilbank has been directly exporting gasoline and diesel under long-term contracts. SUNOCO Corporation supplies petroleum products globally, including in Hawaii and the mainland United States.
The volume of this contract is slated to exceed 3.6 million barrels annually, expanding the target from Hawaii to the western United States. This marks a significant step in extending HD Hyundai Oilbank’s business reach beyond Hawaii, Alaska, and Guam to the mainland United States. “This marks the third consecutive long-term contract with SUNOCO Corporation, based on continuous cooperation and trust,” said Lee Seung-soo, head of global business. “We plan to not only supply gasoline to the mainland U.S. but also explore a variety of business opportunities.”