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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Lightning shuts Daesan, S.Korea refining, naphtha units Reuters - 1 hour 20 minutes ago Send IM Story Print * Hyundai Oilbank shuts 390,000-bpd crude units; restart Sat * Samsung Total shuts 850,000-tpy naphtha cracker * Shutdown due to lightning disruption * Downstream units of LG Chem, Honam partially affected By Cho Mee-young SEOUL, July 23 - South Korea's smallest crude oil refiner and some petrochemical makers south of the capital closed refining, naphtha cracking and downstream units on Friday on lightning disruption, although the impact was seen limited. South Korea's Hyundai Oilbank closed two crude distillate units with a combined capacity of 390,000 barrels per day, while Samsung Total shut down an 850,000 tonnes per year naphtha cracking unit, sources at the companies said. Downstream units run by petrochemical makers LG Chem <051910.KS> and Honam Petrochemical <011170.KS> were partially impacted, sources at the firms said. Hyundai Oilbank spokesman Kong Byoung-min said the firm would restart the refining units on Saturday, while a source at Samsung Total said it was not yet clear when its unit would be reopened. "Lightning brought an impact on the whole of the plant units, while it is not yet clear exact damages. We are expecting normal operations within tomorrow morning," Kong said. Hyundai Oilbank's refineries are located in Daesan, about 145 kilometres southwest of Seoul. Honam Petrochemical, which has a 1 million-tpy naphtha cracker in Daesan, briefly shut down some utility lines after lightning, a company source said. LG Chem, which has a 800,000 tpy cracker in Daesan, also closed its low-density polyethylene production line, a company source said. LITTLE MARKET IMPACT SEEN The disruptions came as the naphtha market was recovering this week after being weighed down by high spot supplies from the Middle East. Cracks, or margins on refining Brent crude into naphtha, jumped over 20 percent on Thursday to a more than two-week high of a $74.03 a tonne premium on news some 300,000 tonnes of Middle Eastern and Suez naphtha were either fixed, or provisionally booked, to move to the West. [ID:nSGE66M03D] "I doubt will reverse the situation because the impact is likely to be small," said a North Asian trader, adding that they could last for three to four days. Shares of LG Chem closed down 1.38 percent on Friday while shares of Honam Petrochemical down 2.03 percent, versus the broader market's <.KS11> 1.3 percent rise. Abu Dhabi-based International Petroleum Investment Co holds a 70 percent stake in Hyundai Oilbank. A South Korean court earlier this month ordered IPIC to fulfill an international ruling to sell the stake to Hyundai firms including Hyundai Heavy Industries <009540.KS>. [ID:nTOE66801T] The cracker run by Samsung Total, in which Samsung Group [SAGR.UL] and France's Total Group <TOTF.PA> each hold a 50 percent stake, is also located in Daesan. The unit converts naphtha, a petrochemical feedstock, to polyethylene and polypropylene. (Additional report by Osamu Tsukimori in TOKYO and Lipeng Seng in Singapore; Editing by Jonathan Hopfner and Ed Lane) Recommend Send IM Story Print Related Articles London's Harrods plans Shanghai store - paper Reuters - 22 minutes ago CESC to invest 20 bln rupees for solar power project Reuters - 23 minutes ago Strong monetary policy action required-India adviser Reuters - 25 minutes ago Nippo Batteries Apr-June net at 37.6 mln rupees Reuters - 29 minutes ago Phillips Carbon April-June net at 280 mln rupees Reuters - 30 minutes ago News Search Top Stories Unique coral reef spurs Mexico tourism battle European banks face moment of truth Microsoft sales up as firm rides out fiscal crisis US Fed vows to act if jobs market flounders GM to buy auto lender in bid to stoke sales More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Beatles piano up for sale: auction house Monaco's playboy prince sets wedding date Nokia continues to struggle in smartphone market S.Africa's Tutu withdraws from public life Bernanke warns of 'uncertain' economic outlook More Most Viewed » Parachuting donkey shocks Russian beachgoers Paris Hilton caught with cannabis in handbag Germany's 'Octopus oracle' keeps perfect record More Most Recommended » Elsewhere on Yahoo! 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