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JX Group

JX Group

Industry: 
Energy
Symbol: 
JXHLY:US
Sources: 

JX Group is a Japanese energy conglomerate that is the parent company of Japan Energy and Nippon Oil. JX Group refines and sells petroleum products (gasoline, petrochemicals, lubricants), imports and sells gas, and generates and sells electricity. These products are marketed under the brand name ENEOS. It invests through JX Holdings (Company Website). 

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“Two Japanese buyers of Iranian crude, Idemitsu Kosan and Cosmo Oil, are unlikely to raise imports from the Middle Eastern country even after sanctions were eased as part of an initial deal on Tehran's disputed nuclear programme...Japan's biggest importer of Iranian crude, JX Holdings Inc , had also earlier said it would not be increasing its Iran volumes in 2014…JX renewed its annual contract for importing crude from Iran for 2014 with volumes steady to slightly lower compared to last year, an official said last month.” (Reuters, “Japan's Idemitsu, Cosmo unlikely to raise Iranian crude imports,” 1/7/14)

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"Japan's biggest oil refiner JX Holdings has renewed its annual contract for importing crude oil from Iran for 2014, with volumes steady to slightly lower compared to this year. Steady progress in talks between world powers and Iran over Tehran's decade-old disputed nuclear programme is raising hopes shipments from the OPEC member will stabilise next year at the current reduced levels, prompting JX, and potentially, other buyers to renew their contracts…JX will import quantities of Iranian crude that are permitted under the Western sanctions, chairman Yasushi Kimura told reporters on Thursday, but declined to comment on the volumes…An official at JX Nippon Oil & Energy Corp, the downstream oil unit of JX Holdings, said import volumes for 2014 from Iran have not been set formally but have been mostly decided, with steady or slightly lower quantities to be imported compared to 2013 levels. 'Volumes are not rising,' in 2014, the official said. JX Nippon is likely to cut its Iran import volumes to around 60,000 bpd in 2014 from an estimated 73,000 bpd this year, an industry source familiar with the matter said in September." (Reuters, "Japan's JX renews annual Iranian crude import contract for 2014," 12/19/13)

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JX was identified by energy industry analysts to have purchased 53,000 barrels of crude oil per day from Iran in 2010.

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