President Yoon Suk Yeol’s surprise press briefing Monday over the possibility of gas and oil sent energy stocks higher and generated plenty of media buzz about a rosy scenario for a country heavily dependent on imported resources. But there are skeptical views about its feasibility. Yoon said the government has approved a massive project to kick off exploratory drilling in search of gas and oil reserves in the .
South Korean government on Monday authorized drilling off the country s southeastern coast for oil and natural gas reserves a recent study by a foreign seismic research company indicated would be equivalent to about 14 billion barrels of oil. The resources are believed to be in the in the shores off the Yeongil Bay near Pohang, about 260 kilometers southeast of Seoul, President Yoon Suk Yeol said in a briefing at the.
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