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Oil experts huddle in Tokyo to seek refuge from China fuel flood

Business Mar 21, 2017

Oil experts huddle in Tokyo to seek refuge from China fuel flood

by Tsuyoshi Inajima

Huddled deep within Tokyo's government district, nearly two dozen of Japan's top oil experts pore over a problem plaguing their industry: How can they stop China from pushing its crude refiners into a corner? The task force, summoned by the trade ministry, needs a strategy ...

Business / Corporate Dec 21, 2016

Shareholders approve JX, TonenGeneral merger, forming new oil giant

Shareholders of JX Holdings Inc., Japan's biggest oil refiner, and third-ranked TonenGeneral Sekiyu K.K. approved a planned April merger on Wednesday. The new firm, to be launched April 1, will be named JXTG Holdings Inc., with sales topping more than ¥11 trillion ($93 billion) when ...

Business / Corporate Dec 19, 2016

Regulator approves JX-TonenGeneral and Idemitsu-Showa Shell mergers

The Fair Trade Commission has approved the merger of Japan's largest oil refiner, JX Holdings Inc., and third-ranked TonenGeneral Sekiyu K.K. The commission also allowed Idemitsu Kosan Co., the second-biggest oil refiner, to buy shares in fifth-ranked Showa Shell from Royal Dutch Shell PLC. The ...

Business / Corporate Aug 31, 2016

JX, TonenGeneral finalize merger as Japan's biggest oil refiner

JX Holdings Inc. and TonenGeneral Sekiyu KK on Wednesday finalized an agreement to form Japan's biggest oil refiner starting in April. JX Holdings will give 2.55 shares for each TonenGeneral share, the two companies said in a joint statement. The deal values TonenGeneral at ¥965.2 ...

Oil firm Idemitsu mulls acquisition of rival Showa Shell

Business / Corporate Dec 20, 2014

Oil firm Idemitsu mulls acquisition of rival Showa Shell

The nation's No. 2 oil distributor might acquire No. 5 rival Show Shell in a deal that could trigger an industrywide consolidation as oil demand shrinks.

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