Korea National Oil Corporation

Gyeonggi do, South Korea

Korea National Oil Corporation

Gyeonggi do, South Korea

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News Article | May 10, 2017
Site: www.marketwired.com

CALGARY, ALBERTA--(Marketwired - May 10, 2017) - Harvest Operations Corp. ("Harvest" or the "Company") announced its financial and operating results for the first quarter ended March 31, 2017. This press release is an overview of the first quarter results for 2017 and should be read with the unaudited condensed interim consolidated financial statements and Management's Discussion and Analysis (MD&A) for the first quarter ended March 31, 2017 available on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. All financial data has been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board except where otherwise noted. All figures reported herein are in Canadian dollars unless otherwise stated. Harvest will hold a conference call to discuss our first quarter 2017 results on Thursday, May 11, 2017 at 9:00 a.m. Mountain Time (11:00 a.m. Eastern Time). To access the conference call dial 1-866-273-9672 (international callers) or 1-416-340-2218 (Toronto local) a few minutes prior to start and request the Harvest Operations conference call. The call will be available for replay by dialing 1-800-408-3053 and entering the passcode 7379749. The replay will be available up to and including May 18, 2017. Harvest is a wholly-owned, subsidiary of Korea National Oil Corporation ("KNOC"). Harvest is a significant operator in Canada's energy industry offering stakeholders exposure to exploration, development and production of crude oil and natural gas (Upstream) and an oil sands project under construction and development in northern Alberta (BlackGold). KNOC is a state owned oil and gas company engaged in the exploration and production of oil and gas along with storing petroleum resources. KNOC will fully establish itself as a global government-run petroleum company by applying ethical, sustainable and environment-friendly management and by taking corporate social responsibility seriously at all times. For more information on KNOC, please visit their website at www.knoc.co.kr/ENG/main.jsp. Certain information in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factor that may cause actual results to be materially different from future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that the forward-looking information may not be appropriate for other purposes and the actual results may differ materially from those anticipated. Although management believes that the forward-looking information is reasonable based on information available on the date such forward-looking statements were made, no assurances can be given as to future results, levels of activity and achievements. Therefore, readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Although we consider such information reasonable at the time of preparation, it may prove to be incorrect and actual results may differ materially from those anticipated. Harvest assumes no obligation to update forward-looking statements should circumstances, estimates or opinions change, except as required by law. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.


Lee J.O.,Korea Atomic Energy Research Institute | Kang I.M.,Korea National Oil Corporation | Cho W.J.,Korea Atomic Energy Research Institute
Applied Clay Science | Year: 2010

Hydrothermal tests were conducted to investigate smectite alteration and its influence on the barrier properties of a smectite clay for a repository. Examinations of the X-ray diffraction patterns of the starting material and reacted samples and the silica release rate in the solution revealed that the smectite was transformed into randomly interstratified illite-smectite by a smectite-to-illite conversion when it was hydrothermally treated under a potassium concentration of 0.5 M, maintaining a 1 g/20 ml of solid sample-to-solution ratio. Temperature was observed to be a key factor controlling the conversion reaction. The smectite alteration affected the barrier properties of smectite clay for a repository: when the temperature increased, the percentage of the expandable smectite layers in the randomly interstratified illite-smectite decreased, the layer charge was more negative, and the cation exchange capacity and the sorption capacity for the cesium and nickel ions were reduced. © 2008 Elsevier B.V. All rights reserved.


Jeong W.,Seoul National University | Lee H.-Y.,Korea National Oil Corporation | Min D.-J.,Seoul National University
Geophysical Journal International | Year: 2012

To interpret subsurface structures properly, elastic wave propagation must be considered. Because elastic media are described by more parameters than acoustic media, elastic waveform inversion is more likely to be affected by local minima than acoustic waveform inversion. In a conventional elastic waveform inversion, P- and S-wave velocities are properly recovered, whereas density is difficult to reconstruct. For this reason, most elastic full-waveform inversion studies assume that density is fixed. Although several algorithms have been developed that attempt to describe density properly, their results are still not satisfactory. In this study, we propose a two-stage elastic waveform inversion strategy to recover density properly. The Lamé constants are first recovered while holding density fixed. While the Lamé constants and density are not correct under this assumption, the velocities obtained using these incorrect Lamé constants and constant density may be reliable. In the second stage, we simultaneously update density and Lamé constants using the wave equations expressed through velocities and density. While density is updated following the conventional method, the Lamé constants are updated using the gradient obtained by applying the chain rule. Among several parameter-selection strategies tested, only this strategy gives reliable solutions for both velocities and density. Our elastic full waveform inversion algorithm is based on the finite-element method and the backpropagation technique in the frequency domain. We demonstrate our inversion strategy for the modified Marmousi-2 model and the SEG/EAGE salt model. Numerical examples show that this new inversion strategy enhances density inversion results. © 2012 The Authors Geophysical Journal International © 2012 RAS.


Jung S.,Korea National Oil Corporation | Choe J.,Seoul National University
Energy Exploration and Exploitation | Year: 2012

Ensemble Kalman filter (EnKF) is a recursive data process algorithm that uses continuous updating. It has been proven that EnKF is an efficient method for data assimilation, uncertainty assessment, and large scale problems in many engineering fields. However, there are two common limitations-filter divergence and overshooting/undershooting. These are due to reduction of cross-covariance between model parameters and measurements. We propose a streamline-assisted ensemble Kalman filter (SL EnKF) that uses covariance localization according to the types of well and measurement data. This method enables selective updates of permeability, therefore, providing more reliable permeability field estimations than the standard EnKF without overshooting/undershooting or filter divergence. In addition, it gives efficient uncertainty evaluations by considering the performances of each ensemble member.


Patent
Korea Research Institute of Chemical Technology, Korea Gas Corporation, Daelim Industrial Co., Korea National Oil Corporation, Hyundai Engineering and Sk Innovation Co. | Date: 2013-11-01

The present invention relates to a process of preparing of a phosphorus-containing phosphorus-alumina support by a sol-gel method and a cobalt/phosphorus-alumina catalyst where cobalt is supported onto the phosphorus-alumina support as an active ingredient. The phosphorus-alumina support is prepared by a sol-gel method and has wide specific surface area with bimodal pore size distribution and high cobalt dispersion, thereby enabling to increase heat and mass transfer, stabilize the structure by modifying the surface property of alumina and decrease the deactivation rate due to the reduced oxidation of cobalt component during the F-T reaction. When Fischer-Tropsch reaction (F-T) is conducted on the catalyst, the catalyst maintains a superior thermal stability, inhibits the deactivation due to water generation during the F-T reaction and also causes relatively high conversion of carbon monoxide and stable selectivity of liquid hydrocarbons.


Trademark
Korea National Oil Corporation | Date: 2012-08-07

Gas oil; light oils; gaseous fuels; naphtha; kerosene; diesel oil; petroleum, raw or refined; petroleum ether; coal gas; liquid fuels; LPG liquefied petroleum gas; liquefied natural gas; gasoline; oil-gas; artificial petroleum; heavy oils; natural gas; propane gas; gasoline; crude oils. Price comparison services; economic forecasting and analysis; marketing services; marketing studies; advice relating to business management; business research; business inquiries; business appraisals; import-export agencies; market analysis; marketing research; inventory control; stocktaking; business management of gas filling station; intermediary services relating to the sale of petroleum; arranging the sale of petroleum; business data provision; business data research; data processing services; providing statistical information for business purposes. Conducting feasibility studies relative to gas exploration; architecture; mining and mineral exploration; petroleum exploration; underwater structural inspection; underwater exploration; oil exploration; analysis, survey of oil field; geological research; geological surveys; geological prospecting; development of underground resources; quality control; surveying services in the field of submarine landform; oil-well testing; engineering drawing; analysis for oil-field exploitation; oil-field surveys; oil prospecting.


News Article | February 24, 2017
Site: www.marketwired.com

CALGARY, ALBERTA--(Marketwired - Feb. 23, 2017) - Harvest Operations Corp. ("Harvest" or the "Company") announced its financial and operating results for the fourth quarter and full year ended December 31, 2016. This press release is an overview of the fourth quarter and full year results for 2016 and should be read with the audited consolidated financial statements and Management's Discussion and Analysis (MD&A) for the fourth quarter and full year ended December 31, 2016 available on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. All financial data has been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board except where otherwise noted. All figures reported herein are in Canadian dollars unless otherwise stated. Harvest will hold a conference call to discuss our fourth quarter and year end 2016 results on Tuesday, February 28, 2017 at 9:00 a.m. Mountain Time (11:00 a.m. Eastern Time). To access the conference call dial 1-800-273-9672 (international callers) or 1-416-340-2216 (Toronto local) a few minutes prior to start and request the Harvest Operations conference call. The call will be available for replay by dialing 1-800-408-3053 and entering the passcode 8505237. The replay will be available up to and including March 28, 2017. Harvest is a wholly-owned, subsidiary of Korea National Oil Corporation ("KNOC"). Harvest is a significant operator in Canada's energy industry offering stakeholders exposure to exploration, development and production of crude oil and natural gas (Upstream) and an oil sands project under construction and development in northern Alberta (BlackGold). KNOC is a state owned oil and gas company engaged in the exploration and production of oil and gas along with storing petroleum resources. KNOC will fully establish itself as a global government-run petroleum company by applying ethical, sustainable and environment-friendly management and by taking corporate social responsibility seriously at all times. For more information on KNOC, please visit their website at www.knoc.co.kr/ENG/main.jsp. Certain information in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factor that may cause actual results to be materially different from future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that the forward-looking information may not be appropriate for other purposes and the actual results may differ materially from those anticipated. Although management believes that the forward-looking information is reasonable based on information available on the date such forward-looking statements were made, no assurances can be given as to future results, levels of activity and achievements. Therefore, readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Although we consider such information reasonable at the time of preparation, it may prove to be incorrect and actual results may differ materially from those anticipated. Harvest assumes no obligation to update forward-looking statements should circumstances, estimates or opinions change, except as required by law. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.


News Article | February 25, 2017
Site: www.marketwired.com

CALGARY, ALBERTA--(Marketwired - Feb. 24, 2017) - Harvest Operations Corp. ("Harvest" or the "Company") announced that is has successfully refinanced $1.0 billion through the closing of a new term loan and the restructuring of an existing credit facility. On February 17, 2017, Harvest entered into an agreement with a Korean based bank that allowed Harvest to borrow $500 million through a three year fixed rate term loan. This term loan was drawn down today and proceeds were used to repay credit facility borrowings. In addition, earlier today, Harvest entered into a new three year $500 million revolving credit facility with a syndicate of banks. The new term loan and amended credit facility replace the Company's $1 billion revolving credit facility which was to mature in April of this year. Both the term loan and new syndicated revolving credit facility are guaranteed by KNOC. The new syndicated revolving credit facility is secured by a first floating charge over all of the assets of Harvest and its material subsidiaries and contains no financial covenants. Harvest is a wholly-owned, subsidiary of Korea National Oil Corporation ("KNOC"). Harvest is a significant operator in Canada's energy industry offering stakeholders exposure to exploration, development and production of crude oil and natural gas (Upstream) and an oil sands project under construction and development in northern Alberta (BlackGold). KNOC is a state owned oil and gas company engaged in the exploration and production of oil and gas along with storing petroleum resources. KNOC will fully establish itself as a global government-run petroleum company by applying ethical, sustainable and environment-friendly management and by taking corporate social responsibility seriously at all times. For more information on KNOC, please visit their website at www.knoc.co.kr/ENG/main.jsp. Certain information in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factor that may cause actual results to be materially different from future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that the forward-looking information may not be appropriate for other purposes and the actual results may differ materially from those anticipated. Although management believes that the forward-looking information is reasonable based on information available on the date such forward-looking statements were made, no assurances can be given as to future results, levels of activity and achievements. Therefore, readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Although we consider such information reasonable at the time of preparation, it may prove to be incorrect and actual results may differ materially from those anticipated. Harvest assumes no obligation to update forward-looking statements should circumstances, estimates or opinions change, except as required by law. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.


News Article | November 10, 2016
Site: www.marketwired.com

CALGARY, ALBERTA--(Marketwired - Nov. 9, 2016) - Harvest Operations Corp. ("Harvest" or the "Company") announced its financial and operating results for the third quarter ended September 30, 2016. This press release is an overview of the third quarter results for 2016 and should be read with the unaudited consolidated financial statements and Management's Discussion and Analysis (MD&A) for the third quarter ended September 30, 2016 available on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. All financial data has been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board except where otherwise noted. All figures reported herein are in Canadian dollars unless otherwise stated. Harvest will hold a conference call to discuss our third quarter 2016 results on Thursday, November 10, 2016 at 10:30 a.m. Mountain Time (12:30 a.m. Eastern Time). To access the conference call dial 1-866-225-2055 (international callers) or 1-416-340-2220 (Toronto local) a few minutes prior to start and request the Harvest Operations conference call. The call will be available for replay by dialing 1-800-408-3053 and entering the passcode 4762044. The replay will be available up to and including November 17, 2016. Harvest is a wholly-owned, subsidiary of Korea National Oil Corporation ("KNOC"). Harvest is a significant operator in Canada's energy industry offering stakeholders exposure to exploration, development and production of crude oil and natural gas (Upstream) and an oil sands project under construction and development in northern Alberta (BlackGold). KNOC is a state owned oil and gas company engaged in the exploration and production of oil and gas along with storing petroleum resources. KNOC will fully establish itself as a global government-run petroleum company by applying ethical, sustainable and environment-friendly management and by taking corporate social responsibility seriously at all times. For more information on KNOC, please visit their website at www.knoc.co.kr/ENG/main.jsp. Certain information in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factor that may cause actual results to be materially different from future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that the forward-looking information may not be appropriate for other purposes and the actual results may differ materially from those anticipated. Although management believes that the forward-looking information is reasonable based on information available on the date such forward-looking statements were made, no assurances can be given as to future results, levels of activity and achievements. Therefore, readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Although we consider such information reasonable at the time of preparation, it may prove to be incorrect and actual results may differ materially from those anticipated. Harvest assumes no obligation to update forward-looking statements should circumstances, estimates or opinions change, except as required by law. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.


News Article | December 20, 2016
Site: www.marketwired.com

CALGARY, ALBERTA--(Marketwired - Dec. 19, 2016) - Harvest Operations Corp. ("Harvest" or the "Company") announced that Mr. Piljong Sung has completed the term of his secondment in Canada and has been reassigned to the headquarters of Harvest's parent company Korea National Oil Corporation ("KNOC") in Ulsan, Korea. As a result Mr. Sung has tendered his resignation as Harvest's Interim President & Chief Executive Officer ("CEO") and executive Director of the Company. The Company would like to thank Mr. Sung for his contributions to Harvest. Harvest is pleased to announce that Mr. Jeff Tooth, formerly Chief Operating Officer ("COO") of the Company, has been appointed President & Chief Executive Officer and additionally will assume an executive Director role. "I believe Harvest will be well served by Mr. Tooth's appointment to lead the Company and to position it for profitable sustainable growth," said Harvest Board of Director Chairman, Mr. Seungkook Lee. Mr. Tooth will continue to hold the position of COO for the near term as well. Harvest is a wholly-owned, subsidiary of Korea National Oil Corporation ("KNOC"). Harvest is a significant operator in Canada's energy industry offering stakeholders exposure to exploration, development and production of crude oil and natural gas (Upstream) and an oil sands project under construction and development in northern Alberta (BlackGold). KNOC is a state owned oil and gas company engaged in the exploration and production of oil and gas along with storing petroleum resources. KNOC will fully establish itself as a global government-run petroleum company by applying ethical, sustainable and environment-friendly management and by taking corporate social responsibility seriously at all times. For more information on KNOC, please visit their website at www.knoc.co.kr/ENG/main.jsp. Certain information in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factor that may cause actual results to be materially different from future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that the forward-looking information may not be appropriate for other purposes and the actual results may differ materially from those anticipated. Although management believes that the forward-looking information is reasonable based on information available on the date such forward-looking statements were made, no assurances can be given as to future results, levels of activity and achievements. Therefore, readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Although we consider such information reasonable at the time of preparation, it may prove to be incorrect and actual results may differ materially from those anticipated. Harvest assumes no obligation to update forward-looking statements should circumstances, estimates or opinions change, except as required by law. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

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