Petrobras signed today (11/09) with TonenGeneral Sekiyu Kabushiki Kaisha (TGSK), a subsidiary of ExxonMobil, the purchase document (Share Sale and Purchase Agreement) of 87.5% interest in the Japanese Company Nansei Sekiyu Kabushiki Kaisha (NSS), for the value of approximately US$ 50 million. Besides TonenGeneral, NSS also has Sumitomo as a shareholder, which will remain with 12.5% of NSS in partnership with Petrobras.
The acquisition includes a refinery with capacity of 100 thousand bpd, that process light crude oil and high quality products, a crude oil and products terminal with storage capacity of 9.6 million barrels, three piers with capacity to receive product vessels of up to 97 thousand deadweight tonnage (dwt) and a mono buoy for Very Large Crude vessels (VLCC) of up to 280 thousand dwt.
It is planned the use of terminal capacity in order to boost the commercialization of biofuels in Japan and other Asian markets and complement current trading of crude oil and products into Asian market of approximately 100,000 bpd.
This business is an important achievement for Petrobras as the company will start refining operations in Asia for the first time. This agreement is in alignment with the Company’s Strategic Plan for the crude oil refining capacity expansion abroad. It also contributes in a significant way to increase the commercialization of crude oil and products produced by Petrobras.
Thus, Petrobras intends to increase its technology exchange with Japan, by presenting its competence driven by its business ethics, its technological development, and social and environmental responsibility to achieve a better life quality for the citizens.
Present in 27 countries in four continents (Americas, Africa, Asia and Europe), Petrobras is a world leader in oil exploration and production in deep water. In Japan, it has been present for over five years, with a representative office in Tokyo and an ethanol company, Nippaku Ethanol (Brazil-Japan Ethanol). Furthermore, it is present in the Asian market through its office in Beijing, and through a trading company in Singapore, Petrobras Singapore Private Limited – PSPL.