Sign up
Log in Sign up
Fri 28 Mar 2008, 08:52 GMT

Idemitsu to acquire 100% of Sumisho Oil


Japanese refiner announces agreement to acquire all shares of Sumitomo's oil unit.

Leading Japanese refiner, Idemitsu Kosan has announced that it has entered into an agreement to acquire all shares of Sumisho Oil, Sumitomo's wholly owned oil products retailer, in an effort to strengthen its local distribution network following a recent fall in demand Reuters reports.

Tokyo-based Sumisho Oil Corp, which sells heavy fuel oil to factories and ships and gasoline via petrol stations, is reported to sell over 11 million barrels of refined products a year and to have achieved revenues of 120.6 billion yen (US$1.2 billion) in the financial year ended March 2007.

Sumisho Oil currently purchases approximately 6.29 barrels of oil products per year from Idemitsu. The company will become a subsidiary of Idemitsu in July 2008.

Idemitsu Kosan Co. Ltd. is Japan's third largest refiner and a leading marine fuels and lubricants supplier in the local market, covering all major Japanese ports.

Trading house Sumitomo Corporation acts as supplier and trader in the Japanese bunker market and also has representative offices in Singapore and the United Kingdom.

Deal   Japan 
Suezmax crude oil tanker render. Guangzhou Shipyard secures Suezmax order, delivers vessels ahead of schedule  

China State Shipbuilding subsidiary reports nine vessel deliveries in the first quarter of 2026.
Clean ammonia project pipeline chart as of March 2026. Renewable ammonia pipeline grows despite Norway project freeze  

GENA Solutions tracks 325 projects totalling 146 MMT of capacity by 2034 despite execution challenges.
Antwerpen and Arlon naming ceremony. Exmar names world’s first ocean-going ammonia dual-fuel gas carriers in South Korea  

Two 46,000-cbm vessels can reduce CO₂ emissions by up to 90% during navigation.
Fujian province map with highlighted locations. Gulf Marine expands bonded lubricant supply network in China’s Fujian province  

Company adds supply points in Putian, Ningde and Fuqing, covering 20 terminals across the region.
Excelerate Acadia naming ceremony. Bureau Veritas classifies Excelerate Energy’s new 170,000-cbm FSRU Excelerate Acadia  

Vessel built by HD Hyundai Heavy Industries features dual-fuel engines and proprietary regasification system.
Osprey Energy logo. Osprey Energy seeks junior bunker trader to support Cebu trading activities from Netherlands  

Dutch marine fuel supplier targets Cebu region expansion through new training programme for Filipino candidates.
EUA prices dropping graphic. KPI OceanConnect highlights falling EUA prices as opportunity for shipowners to lock in compliance costs  

Marine fuel firm says timing carbon allowance purchases can reduce costs as EU emissions scope expands.
RINA employee in control room. RINA partners with Hanwha Group on battery-hybrid propulsion for ro-ro ferries  

Classification society to provide regulatory compliance verification for hybrid battery systems on newbuilds and retrofits.
Amadeus Titanium vessel. HGK Shipping’s Amadeus Titanium fitted with wind assistance system  

Coastal vessel equipped with VentoFoils at Dutch port to reduce fuel consumption on Covestro routes.
Sebastian Weder, Bunker One. Bunker One expands physical supply operations to Tallinn and Finland  

Marine fuel supplier extends Baltic Sea coverage with new operational presence in Estonia and Finland.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG/LBM Biofuel Biogas Biomethanol Dual-fuel E-fuel E-methane/e-NG Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind power



 Recommended