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 
Pennsylvania skyline. Sunoco seeks bunker trader in US to drive marine fuels growth  

New hire will be tasked with expanding Sunoco's bunker business in front-line commercial trading role.
Brooklyn Bridge and New York City skyline. Minerva Bunkering recruiting Americas sales manager as it targets regional growth  

New York-based manager is sought to build customer base across North and South America.
Marine battery container. AYK Energy to unveil swappable containerised marine battery system at SMM Hamburg  

The system claims to remove key cost and engineering barriers to marine electrification.
Birjo II vessel. Dutch inland barge Birjo II runs on B100 biodiesel after fossil-fuel conversion  

Sunoil and BFT Tanker Logistics report positive early results from switch to pure biodiesel.
Maran Myrsini vessel. Maran Tankers takes delivery of fourth dual-fuel Suezmax tanker in series  

Maran Myrsini, built by New Times Shipbuilding, joins Maran Tankers' growing dual-fuel fleet.
Marine Tina ship-to-ship (STS) bunkering operation Vitol and Olam Agri claim world’s first co-processed CNSL VLSFO bio-bunkering operation in Singapore  

Cashew nutshell liquid co-processed with VLSFO used on a voyage spanning China, Europe and Brazil.
Forvikbuen vessel. Damen Folla hands over hybrid-electric aquaculture vessel, concluding multi-year deal  

Shipbuilder completes seven-vessel framework agreement with final workboat delivery to Mowi Norway
Verde Marine Energy and Sunoco LP logos. Sunoco and Verde Marine Energy announce commercial collaboration in ARA and UK bunker markets  

Partnership aims to combine Sunoco's Americas reach with Verde's Northern European supply platform.
CMA CGM Berenice vessel. CMA CGM methanol dual-fuel vessel makes first call at Malta Freeport  

Berenice is fifth in a six-ship series of methanol dual-fuel vessels being introduced by the French shipping group.
Everllence 16V175D engine render. Everllence's 175D engine wins offshore tug order from Türkiye  

Sixteen gensets are bound for four Rampage 6000-DE terminal tugs destined for Guyana.

↑  Back to Top


 Recommended