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 
Houston skyline at night. JuWonOil looking to strengthen with two Houston hires  

Texas-based firm is recruiting a marine lubricants sales executive and a marine fuels and distillates trader.
Lloyd's Register (LR), Seapeak, Kongsberg Maritime and Tunable JDP launch. Four firms partner to trial continuous emissions monitoring on LNG carrier  

LR, Seapeak, Kongsberg Maritime and Tunable will test onboard CO₂ monitoring against engine data and default emissions factors.
Bunker Holding logo. Bunker Holding reshuffles commercial leadership across brand portfolio  

Appointments announced across KPI OceanConnect, Glander International Bunkering and its digital sales operations.
Design Appraisal (DA) awarding ceremony for an LNG carrier design. Lloyd's Register grants design appraisal for wind-powered LNG carrier concept  

Vessel design featuring four Wind Challenger sails moves closer to commercial deployment.
Society for Gas as a Marine Fuel (SGMF) logo. SGMF publishes first ISO-compliant life cycle assessment of methanol as a marine fuel  

Study evaluating 15 production pathways completes organisation’s suite of LCAs covering LNG, ammonia and methanol.
AiP award ceremony for 271,000-cbm LNG carrier (LNGC) design. DNV grants approval in principle for HD HHI’s 271,000-cbm LNG carrier design  

Classification society backs Hyundai’s largest LNG carrier design yet, featuring five membrane tanks and dual-fuel propulsion.
GTT logo. GTT Energy launches new LNG fuel tank design for container ships  

'Next-generation' LNG fuel containment system features 2 barg technology.
Flex Commodities logo. Flex Commodities seeks operator for bunker trading operations  

Candidates should have three to five years of relevant bunker or commodity trading operations experience
Glander International Bunkering logo. Glander International Bunkering seeks bunker trader for Valencia office  

Role open to sales professionals regardless of prior oil industry experience.
Frankie Russ vessel. TB Marine takes over technical management of methanol-ready tanker  

Newbuild MT Frankie Russ is first tanker in Ernst Russ's fleet.

↑  Back to Top


 Recommended