April 4, 2018
JXTG and PETROLIMEX Sign MOU on Joint Project in Japan
JXTG Nippon Oil and Energy Corporation (JXTG) announces today that it has signed a memorandum of understanding with Vietnam National Petroleum Group (PETROLIMEX) to carry out a feasibility study on the cooperative project utilizing its Marifu Refinery in Japan.
JXTG and PETROLIMEX, as strategic partners, have been conducting a joint study on multiple collaborative projects. This joint project will secure supply sources and outlets for petroleum products in the future international petroleum market, and thus it will be a significant step for both companies. They will aim to complete the joint study by April of 2019.
JXTG will continue to pursue a closer cooperative relationship with PETROLIMEX to develop new collaborative business opportunities.
1. Date of Execution of the Memorandum of Understanding
4th April 2018
Tsutomu Sugimori : President and Representative Director, JXTG
Bui Ngoc Bao : Chairman of Board of Management, PETROLIMEX
1. Company Profile of Vietnam National Petroleum Group
|(1)Head Office||Ha Noi|
|(3)Capital||12.9 trillion Vietnamese Dong|
|(4)Representative||Bui Ngoc Bao|
|(5)Business Activities||Import and Sales of petroleum and petrochemical products|
2. Overview of Marifu Refinery
|(1)Location||1-1, Waki 6-chome, Waki-cho, Kuga-gun, Yamaguchi|
|(3)General Manager||Eiji Kato|
|(4)Employees||308 (as of 1 April, 2018)|
|(5)Site Area||Approximately 660 thousand square meters|
|(6)Refining Capacity||120,000 barrels per day|
|(8)History||1943 Inaugurated as the Marifu Refinery of Koa Oil
1989 Completed the integrated control room
1996 Refining capacity expanded to 127,000 barrels per day
2004 Started electric power sales