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.

Wolf 1 vessel. Petrol Ofisi launches fuel supply tanker Wolf 1  

Turkish bunker supplier adds 1,750-dwt vessel with alternative fuel infrastructure to fleet.
BIMCO meeting. BIMCO to convene for adoption of biofuel clause and ETS provisions at February meeting  

Documentary Committee to consider new contractual frameworks for alternative fuels and emission trading scheme compliance.
Sea Change II vessel render. Incat Crowther and Switch Maritime develop 150-passenger hydrogen ferry for New York  

Design work begins on 28-metre vessel with 720 kg hydrogen capacity and 25-knot speed.
Aerial view of a container vessel. HIF Global signs heads of agreement with German eFuel One for 100,000 tonnes of e-methanol annually  

Deal covers supply from HIF’s Uruguay project, with e-methanol meeting EU RED III standards.
Welcoming of Kota Odyssey at Jordan’s Aqaba Container Terminal. PIL’s LNG-powered vessel makes maiden call at Jordan’s Aqaba port  

Kota Odyssey is Pacific International Lines’ first LNG-fuelled ship to call at the Red Sea port.
Celsius vessel. RMK Marine to equip Celsius LNG bunker vessel with gas combustion unit  

Turkish shipbuilder adds specialised equipment to support cool-down and gassing-up operations for LNG vessels.
CSL and CMA CGM contract signing. Cochin Shipyard signs contract with CMA CGM for six LNG-fuelled container vessels  

Indian shipbuilder to construct vessels for French shipping company.
Yellow oil with air bubbles illustration. Maximising lubricant value | Joe Star, VPS  

VPS Strategic Account Manager shares insights from the firm's database of lubricant oil results.
IBIA hiring graphic IBIA seeks marketing and events coordinator for remote role  

International Bunker Industry Association is recruiting for a dual-reporting position supporting global campaigns and event delivery.
Erdinc Altun and Pınar Kezer Kilinc. Arkas Bunker and DB Tarımsal Enerji present Turkish biofuel model at IMO seminar  

Turkish firms showcase integrated waste-to-fuel system with ISCC-EU certification at London technical seminar.

↑  Back to Top


 Recommended