Reuters logo
3 months ago
FACTBOX-Japanese oil refiners Idemitsu, Showa Shell sign alliance deal
May 9, 2017 / 9:18 AM / 3 months ago

FACTBOX-Japanese oil refiners Idemitsu, Showa Shell sign alliance deal

TOKYO, May 9 (Reuters) - Japanese oil refiners Idemitsu Kosan Co Ltd and Showa Shell Sekiyu KK said on Tuesday they would achieve more than 25 billion yen ($220.01 million) in cost reductions within three years through a business alliance ahead of Idemitsu's stalled merger with Showa Shell.

Following are some details of the alliance.

* The two firms would integrate operations of their combined fleet of 21 crude oil carriers from May loading.

* The two firms currently select optimum crude oil for refining separately, but they will merge the operations, called linear programming, from October for their seven group refineries.

* The two companies will supply each other with products during scheduled maintenance of refineries. ($1 = 113.6300 yen) (Reporting by Osamu Tsukimori and Taiga Uranaka; Editing by Biju Dwarakanath)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below