S-Oil CEO Anwar Al-Hejazi (S-Oil) S-Oil is accelerating its next phase of growth as it marks its 50th anniversary this year, the company said Monday."2026 marks both our 50th anniversary and the completion of the Shaheen project," said CEO Anwar Al-Hejazi. "Building on the competitiveness and innovative DNA we have cultivated over the past 50 years, we aim to grow into a trusted energy and chemicals company for the next 50 years as well."Founded on June 28, 1976, the company has grown into one of Korea's leading refiners while steadily reshaping itself into a broader energy and chemicals company.Over the past decade, S-Oil has invested more than 14 trillion won ($9 billion) to diversify its business portfolio and secure long-term growth amid the global shift toward carbon neutrality.A major milestone came in 2018 with the launch of the Residue Upgrading Complex and Olefin Downstream Complex project, which laid the foundation for its transformation from a refining-focused company into a petrochemical player.This year, S-Oil is set to complete the 9.2 trillion won Shaheen project, the largest investment in the nation's petrochemical industry. The project is expected to strengthen the competitiveness of the domestic petrochemical value chain amid changing global supply chains and China's oversupply.The company has pursued long-term investments to stay ahead of industry restructuring. In 2011, it completed what was then the world's largest single-site paraxylene production facility. It also expanded exports and localized the production of premium lubricating base oils."Our 50th anniversary marks a new starting point for growth," said Ryu Yeol, president of corporate strategy & services at S-Oil. "Alongside expanding our petrochemical business through the Shaheen project, we are pursuing sustainable growth through digital transformation, AI innovation and carbon reduction initiatives."