S.Korea's GS Caltex says drops planned Brazil refinery project


DAEGU, South Korea, Oct 14 (Reuters) - South Korea'ssecond-largest oil refiner GS Caltex said it hasdropped a plan with GS Energy to build a refining plant withBrazil's state-run oil firm Petroleo Brasileiro SA due to uncertainty over profitability.

"We decided not to go for the project. We dropped itcompletely and so has GS Energy as we are not sure whether it isa profitable project," GS Caltex chairman Hur Dong-Soo toldreporters on the sidelines of the World Energy Congress in thecity of Daegu.

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