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 
Molgas Energy logo. Molgas completes acquisition of Prima LNG’s Irish business  

Molgas takes over Prima LNG’s Irish customer portfolio, including a Mondelez manufacturing site, as part of its expansion.
Levante LNG vessel. Peninsula marks three years of LNG bunkering with Levante LNG  

Bunker supplier reports zero claims and CO₂e cuts as LNG bunker vessel completes three years of operations.
Sea Leader FZCO logo. Sea Leader begins physical bunker supply operations in eastern India  

Company completes first bunker delivery after registering with India's shipping authority.
Wega and Deneb vessels render. Auramarine to supply methanol fuel systems for German hydrographic research vessels  

Finnish firm signs deal with Gondan Shipbuilders to equip two new vessels for Germany's maritime agency.
Mitsui-Everllence B&W 6S50ME engine render. Mitsui E&S secures first order for dual-fuel engines from Indian shipyard  

Six LNG-fuelled engines will power chemical tankers built by Swan Defence and Heavy Industries in Gujarat, India.
Jamaica bunkering hub study presentation. Study maps route for Jamaica to become regional hub for alternative marine fuels  

Research identifies Jamaica's location, port traffic and existing LNG infrastructure as foundations for a regional alternative marine fuels hub.
A2B Progress vessel. A2B-online orders two more methanol-fuelled vessels for shortsea network  

Dutch shortsea operator expands newbuild series to four ships, adding methanol propulsion and battery capacity for emission-free port calls.
Höegh Autoliners and BYD Energy Storage cooperation agreement signing. Höegh Autoliners signs battery deal with BYD for ammonia-ready car carrier  

Ro-ro shipper teams up with BYD Energy Storage to combine batteries, solar power and ammonia-ready propulsion on a single car carrier.
Hercules Angelica vessel. Hercules Tanker Management adds new Ultra-Spec tanker to fleet with FAME cargo run  

Hercules Angelica begins maiden voyage carrying FAME from Malaysia to the UK/ARA region.
SHI and Morimura sign MoU. Samsung Heavy Industries and Japan's Morimura to jointly develop solid oxide fuel cells for ships  

Companies target 2028 commercialisation of SOFC technology for merchant vessels and floating data centres.

↑  Back to Top


 Recommended