S-Oil will be awarded a presidential citation in recognition of its preventive operations against oil tanker accidents and environmental damage, the company said on Wednesday.

The award ceremony will be held at the 17th World Ocean Day festival to be held at the Yeosu Expo 2012 on Thursday, company officials said.

The company will be the first refinery firm to be given a presidential citation.

S-Oil said that it has abided by the agreement presented by the Ministry of Land, Transport and Maritime Affairs on prevention of oil tanker accidents since April. The agreement aims to reduce oil tanker accidents that can occur during the importation and exportation of petroleum products.

Applying stricter safety regulations and early adoption of a double-hull system also contributed to receiving the citation, the company said.

To ensure safety, the company said that it uses tugboats to pull not only heavy oil carriers but also small oil vessels that are lighter than 1,500 tons.

By Chung Joo-won (joowonc@heraldcorp.com)