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Japan Energy Corporation

Japan Energy Corporation

Industry: 
Energy
Symbol: 
TYO:5020
Country: 
Japan
Contact Information: 
Sources: 

“The Japan Energy Group engages in a comprehensive array of upstream and downstream activities, from petroleum exploration and development, refining, and petroleum product sales to liquefied petroleum gas (LPG), lubricants, and petrochemical products” (Company website).

"The Japan Energy is a core group company operating under the JX Holdings,Inc. JX Holdings has been established through the joint share transfer by Nippon Oil Corporation and Nippon Mining Holdings, Inc. All the businesses of the both Group Companies shall be integrated, restructured and reorganized under JX Holdings, resulting the incorporation of three core business companies, Petroleum Refining and Marketing Business Company, Oil and Natural Gas Exploration and Production Business Company and Metals Business Company, which is scheduled to be made on July 1, 2010” (Company website).

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As of April 2010, Japan Energy imports 75 thousand barrels of crude oil per day from Iran. (Reuters, "Iran’s Crude Oil Buyers in Europe, Asia," April 18 2010)

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News sources in late 2007 reported Japan Energy switching from dollars to yens to pay for Iranian crude oil: “Recent reports indicate that Japanese refiners Cosmo Oil Co. and Japan Energy Corp. have decided to stop paying Iran in US dollars in exchange for oil imports, following Iran's request. By asking its customers to pay in currencies other than the dollar, Iran aims to counter US pressure and protect itself against the weakening American currency."

"Japan Energy is the country's sixth-largest refiner that consumes around 400,000 barrels a day of crude. Around 12 percent of that amount comes from Iran" ("Oil bourse update: Japanese to pay Iran in Yen," October 9, 2007).