South Korean oil refining company SK Innovation and its energy affiliate SK E&S have agreed to merge, creating an energy company with assets totaling KRW 100 trillion ($72.5 billion). This merger positions the new entity as the largest private energy company in the Asia-Pacific region, addressing the challenges posed by economic downturns, sector uncertainties, and gaps in the electric vehicle market. The merger aims to create synergies in three main areas: enhancing portfolio competitiveness, strengthening financial and profit frameworks, and ensuring sustained growth momentum. SK Innovation and SK E&S, through this merger, are poised to become a dominant player in the energy market. The partnership between Stolthaven Terminals and GES has been chosen to develop a green ammonia terminal in Pecém, Brazil. This terminal will support the production and export of green hydrogen and ammonia, contributing to the global shift towards renewable energy. The CEO and President of SK Innovation expressed optimism about the merger, envisioning a 'Total Energy & Solution Company' that leads the energy industry forward. Moreover, the merged company will focus on a diverse range of energy sources and solutions, including ammonia, batteries, chemicals, city gas, hydrogen, LNG, oil, power, and renewable energy. By consolidating various subsidiaries and leveraging synergies, SK Innovation aims to secure a competitive position in the evolving energy landscape. The positive sentiment surrounding the merger and projects like the green ammonia terminal highlights a strategic shift towards sustainable energy and growth in the energy sector.