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Press ReleasesJanuary 13, 2009
Press Releases
Cease of Refining Operation at Toyama Refinery of Nihonkai Oil Co., Ltd.
/ Conversion of Refinery to an oil terminal
January 13, 2009
Nippon Oil Corporation
Nihonkai Oil Co., Ltd.
PRESS RELEASE
Nippon Oil Corporation (hereinafter referred to Nippon Oil; President: Shinji Nishio) and its consolidated refining subsidiary, Nihonkai Oil Co., Ltd. (hereinafter referred to Nihonkai Oil; President: Akio Sakon), hereby announce that both companies have decided a schedule for the cease of refining operation at Nihonkai Oil’s Toyama refinery and an outline for the conversion to an oil terminal as follows.
Initially, we planned the cease of refining operation at the end of March 2009. However, given an unexpectedly serious decrease in domestic demand of oil, we reviewed the situation and have decided to cease the operation at the end of January 2009, earlier than originally planned for production adjustment.
Transition to an oil terminal company will be completed in April 2009. Even after ceasing refining operation and becoming an oil terminal company, we will continue to contribute to the development of the local economy through the stable supply of petroleum products.
1.Outline of the oil terminal company
| Operations | Staging and supply base of crude oil and oil products for Nippon Oil customers in Hokuriku region (oil terminal) |
| Oil handled | Gasoline, kerosene, diesel oil, naphtha, fuel C and crude oil etc. |
| Volume of oil handled | Approximately 1.5 million KL/year (estimate for fiscal year 2009) |
| Number of employees | Approximately 30 (planned) |
| Address | 500 Heikin, Aza Maejima, Kitakubo, Yokata, Toyama city, Toyama prefecture (unchanged) |
•Name, representative and capital of the company are to be announced
2.Schedule
| End of January 2009 | Cease of refining operation (Shutdown of facilities for production adjustment) |
| End of March 2009 | Discontinuation of oil refining business |
| April 1, 2009 | Commencement of warehousing business (transition to an oil terminal company) |
| July 2009 | Commencement of the new structure (organization and staff) |
For further information, please contact:
Nippon Oil Corporation: Public Relations Dept.
TEL: 03-3502-1124
Nihonkai Oil Co., Ltd.: General Affairs Dept.General Affairs Group
TEL: 076-435-1250