Sign up
Log in Sign up
This is a legacy page. Please click here to view the latest version.
Thu 29 Dec 2016, 14:55 GMT

Taiyo Oil buys fuel oil-producing refinery in Okinawa


Petrobras sells 100% stake in refinery that stopped operating in March 2015.

Japan's Taiyo Oil Company has acquired Petrobras's 100 percent stake in Nansei Sekiyu.

The transaction was completed on Wednesday with a payment of US$165 million. The amount is still subject to final adjustments, according to Petrobras.

Nansei Sekiyu, a wholly owned subsidiary of Petrobras International Braspetro B.V. (PIB BV) up until the sale, owns a refinery on the island of Okinawa, Japan. It has a processing capacity of 100,000 barrels of oil per day, 36 tanks that store 9.5 million barrels of oil and oil products, three piers for loading and unloading ships and a monobuoy.

The facility is able to produce a range of oil products including fuel oil, gasoline, diesel, jet fuel and light oil.

Petrobas acquired 87.5 percent of Nansei Sekiyu in 2008 for approximtely 5.5 billion yen ($46.1 million) from Japanese refiner TonenGeneral Sekiyu, and made it a wholly owned subsidiary in 2010.

In 2011, the year after it took full ownership, Petrobras said that it would consider selling Nansei Sekiyu, but a deal never materialized.

The Brazilian company announced in March 2015 that it had decided to shut the Nansei Sekiyu refinery and continue operating the local marine terminal to maintain fuel supplies to Okinawa.

Taiyo Oil is a producer, importer and seller of oil and petrochemical products. The company's head office is in Tokyo.

Deal   Petrobras   Japan 
Ubuntu Humanity alongside Fuelng Bellina vessel. DNV says existing LNG infrastructure can support low-GHG methane transition  

Classification society finds biomethane and e-methane compatible with current LNG fleet and bunkering networks.
IBIA bunker buyers working group graphic. IBIA launches Bunker Buyers Working Group for fuel procurement end users  

New forum aims to represent shipowners, charterers and ship managers in policy and regulatory discussions.
Carbon registry process diagram. MOL and Shell launch book-and-claim scheme for marine biofuel emissions credits  

Japanese shipping firm partners with Shell to offer environmental attribute certificates from third-party vessel operations.
Renewable Energy Directive (RED III) policy brief cover. Bureau Veritas releases report on EU Renewable Energy Directive’s impact on shipping  

Classification society examines RED III compliance challenges as member states transpose the directive into national law.
New York City skyline. IBIA to hold 2026 annual convention in New York  

The event marks the first time in recent years that the association’s gathering has been held in the Americas.
Port of Barcelona delegates. Port of Barcelona advances shore power rollout for cruise terminals  

Installation of OPS systems begins at MSC and Royal Caribbean terminals as port reorganises infrastructure.
NACKS bulk carriers with rotor sails. Anemoi and NACKS secure ClassNK approval for Ultramax rotor sail designs  

Two configurations for wind-assisted propulsion systems on bulk carriers receive approval in principle.
DP World London vessel. Elbdeich Reederei takes delivery of first methanol-capable feeder vessel  

German shipowner receives 1,250-teu dual-fuel newbuild from Chinese yard, with three more to follow.
AuctionConnect and Asyad Shipping logos. Asyad Shipping adopts AuctionConnect digital bunker platform under three-year deal  

Middle East shipping company to implement auction-based procurement system across fleet operations.
Fuel for thought: LNG for Cruise report cover. LNG remains the most deployable decarbonisation option for cruise shipping, Lloyd’s Register report finds  

Classification society’s latest research examines the fuel’s role in the sector’s energy transition and pathway to net zero.

↑  Back to Top


 Recommended