Lee scolds state-run oil firm over lack of research for offshore fuel project

Lee scolds state-run oil firm over lack of research for offshore fuel project

President Lee Jae Myung scolded top executives Wednesday at the Korea National Oil Corp. (KNOC) for pushing ahead with a project to develop potential oil and gas reserves off the nation's southeastern coast without conducting a proper economic feasibility study. Lee questioned acting KNOC chief executive Choi Moon-gyu about whether the state-run company had calculated the cost of deep-sea drilling for potential oil and gas reserves in the East S…