Business / Corporate

Japan oil distributor JXTG to be renamed Eneos

JIJI

Major Japanese oil distributor JXTG Holdings Inc. said Thursday it will change its name to Eneos Holdings Inc. in June 2020.

Its core unit, refinery and gas station operator JXTG Nippon Oil & Energy Corp., will be renamed Eneos Corp. also next June.

The rebranding is part of reforms in the JXTG group’s management structure, including an increase in officers holding posts in both companies and the integration of management-related divisions.

Through the reforms, the group hopes to speed up its decision-making and business execution, officials said.

JXTG Holdings was created in April 2017 through the integration of JX Holdings Inc. and TonenGeneral Sekiyu KK.

The Eneos brand was launched in 2001 by Nippon Mitsubishi Oil Corp., a key predecessor of the JXTG group.

In late June this year, the group’s three other gas station brands previously operated by TonenGeneral, such as Esso and Mobil, were integrated into the Eneos brand.

The names of JX Nippon Oil & Gas Exploration Corp. and JX Nippon Mining & Metals Corp., both under the wing of JXTG Holdings, will remain the same.