UPDATE 1-South Korea's GS Caltex drops planned Brazil refinery project
* GS Energy also walks away from plan being looked at with Petrobras
* GS Caltex, GS Energy unsure of project's profitability-Chairman
DAEGU, South Korea, Oct 14 (Reuters) - South Korea's second-largest oil refiner GS Caltex said it has dropped plans to build a refining plant with GS Energy and Brazil's state-run oil firm Petroleo Brasileiro SA due to uncertainty over profitability.
"We decided not to go for the project. We dropped it completely and so has GS Energy as we are not sure whether it is a profitable project," GS Caltex chairman Hur Dong-Soo told reporters on the sidelines of the World Energy Congress.
GS Caltex is equally owned by Chevron Corp, the second-largest U.S. oil company, and South Korea's GS Energy, owned by GS Holding.
In June, Petrobras signed an accord looking at a possible partnership to build a 300,000 barrel-per-day low-sulfur diesel refinery starting in late 2017 near Fortaleza on Brazil's northeastern coast.