Korean government discovered that 900,000 barrels of oil reserves were missing when releasing the petroleum reserves, and the Ministry of Industry has launched an emergency audit process.
Media reported on March 21 that the 900,000 barrels of crude oil originally stored at the Ulsan Petroleum Reserve Base in South Korea, which could be prioritized for domestic supply in emergencies, were eventually sold overseas by Middle Eastern oil traders at a higher price because the Korea Oil Corporation did not exercise its priority purchase right in time. In response, the South Korean government has launched an emergency investigation to examine whether there were procedural lapses.
[Witty] Comment: Normally, without war, it's not needed, just lying around. Taking the oil from the reserve and selling it on the market to convert into cash, then buying stocks of tech companies like NVIDIA could make a small profit. When international oil prices fall, replenishing the reserves secretly. Who knew Trump would suddenly attack Iran! This plan has completely failed, and the speculative operation is now exposed under the sun. The so-called "failure to exercise the priority purchase right in a timely manner" is just an excuse to cover up. Strategic reserves are supposed to be the life-saving card for energy crises, but they have been turned into a tool for speculation. Such embezzlement operations not only expose the huge loopholes in South Korea's oil management system, but also tear off the veil of its energy security, and this emergency audit is merely a clumsy attempt to mend the fence after the sheep have been lost.
Original article: toutiao.com/article/1860318487362567/
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