Nippon Oil

JX Nippon Oil & Energy Corporation
Public KK
Traded as TYO: 5001
Industry Oil and gasoline
Founded 1888
Headquarters Tokyo, Japan
Key people
 Fumiaki Watari, CEO
Shinji Nishio, President
Products Petroleum
Petrochemical
Fuel
Revenue Increase ¥ 7,523.990 billion JPY (FY 2008)
Increase ¥ 148.306 billion JPY (FY 2008)
Number of employees
 13,290 (2007)
Parent JX Holdings
Website www.eneos.co.jpwww.eneos.us
An ENEOS service station in Japan

The JX Nippon Oil & Energy Co. (JXエネルギー株式会社 JX Enerugī Kabushiki-gaisha, TYO: 5001), or NOC or Shin-Nisseki (新日石) is a Japanese petroleum company. Its businesses include the exploration, importation, and refining of crude oil; the manufacture and sale of petroleum products, including fuels and lubricants; and other energy-related activities.

Its products are sold under the brand name ENEOS, which is also the name used for its service stations. It is the largest oil company in Japan, and in recent years it has been expanding its operations in other countries.

Nippon Oil is a member of the Mitsubishi UFJ Financial Group (MUFJ) keiretsu.

History

The company was established 1888 as the "Nippon Oil" (日本石油 Nihon Sekiyu), or "Nisseki" (日石) for short. In 1999, the company merged with and absorbed the former "Mitsubishi Oil" (三菱石油 Mitsubishi Sekiyu). The merged company was called "Nippon Mitsubishi Oil" (日石三菱 Nisseki Mitsubishi) until 2002, when it adopted its present name.

Worldwide operations

The company has worldwide locations including JX Nippon Oil & Energy USA Inc in Schaumburg, Illinois, Torrance, California, and Nippon Oil Lubricants (America), LLC, in Childersburg, Alabama. ENEOS is JX Group's corporate brand. They have brought their premium brand motor oil ENEOS and SUSTINA into the United States recently. The product line includes the extremely difficult to formulate 0W-50 viscosity oil. New line of premium full synthetic motor oil SUSTINA is now available in the United States.

NOC employs over 5,500 people, with additional employees from oversea divisions, and operates the following refineries throughout Japan:

Nippon Oil Exploration owns a 5% share of Syncrude, a Canadian oil sands mining company, through its fully owned subsidiary Mocal Energy.[1]

The company also has technical collaboration with Tide Water Oil Co., an Indian petroleum products manufacturer. Superior quality lubricants under the brand name ENEOS are manufactured and marketed in India by Tide Water Oil Co. in India.[2]

2011 earthquake and tsunami

On 11 March 2011, a 145,000-barrel-per-day refinery in Sendai was set ablaze by the Tōhoku earthquake.[3] Workers were evacuated,[4] but tsunami warnings hindered efforts to extinguish the fire until 14 March, when officials planned to do so.[3]

Environmental record

Logotype of Nippon Oil

While developing the Rang Don Oil Field and Helang Gas Field NOEX, part of the Nippon Oil Corporation, conducted environmental impact assessments. These assessments helped them implement management plans based on the results of the assessments, specifically, how to reduce the impact of the fields on surrounding sea areas.[5]

In 2005 Nippon Oil and Ebara-Ballard announced they were going to start field testing a 1 kW household proton-exchange membrane fuel cell system that uses coal oil as fuel. It was the world's first household test with the system. The system achieves a greater power-generation efficiency than normal heating. The system can operate in temperatures as low as -10 deg C.[6]

In 2007 Nippon Oil was the recipient of the Nippon Keidanren Chairman’s Prize in recognition of its achievements in a number of areas. They were the first in the Japanese petroleum industry to achieve a zero emission status at their refineries. They are also developing fuel cell systems as well as producing and selling sulfur-free fuel. The Rang Dong Oil Field in also one of the biggest CO2 reduction projects in the world. The project utilizes associated gas produced along with crude oil for additional energy production.[7]

Connection to human rights abuses

The construction of the Yetagun pipeline in Myanmar has been linked to 'severe human rights abuses' by Burmese troops. The company stated it 'was not aware of such abuses.' However critics claim that such foreign investment by Nippon Oil and other multinationals: 'provides a crucial source of support to the junta, allowing it to ignore demands that it return Burma to civilian rule and end human rights abuses.'

Sponsorship

Nippon Oil was formerly a sponsor of the Honda Racing F1 Team and is a current sponsor of the F.C. Tokyo football club. It also sponsors other motor sports teams, such as Team Lexus LeMans ENEOS SC430 in the Japanese Super GT series in the GT500 class. In the late 1980s and early 1990s JSPC, it sponsored the Trust Racing Team Porsche.[8] More recently, the Eneos brand has been featured on Kyle Larson's #42 Chevrolet Camaro in the NASCAR Xfinity Series during the 2014, 2015, and 2016 season in select races. They also sponsor Akinori Ogata in the NASCAR Camping World Truck Series when he drives the 63 for MB Motorsports. He drove the 63 truck in 2015 and 2016.

References

  1. ↑ "Activities in Canada". Nippon Oil Exploration. Retrieved 2009-02-17.
  2. ↑ "Activities in India with Tide Water Oil Co.".
  3. 1 2 Fernandez, Clarence (14 March 2011). "Japan's shipping, energy sectors begin march back from quake". Reuters. Archived from the original on 14 March 2011. Retrieved 14 March 2011.
  4. ↑ Tsukimori, Osamu; Negishi, Mayumi (11 March 2011). "JX refinery fire seen originated from shipping facility". Reuters. Archived from the original on 14 March 2011. Retrieved 14 March 2011.
  5. ↑ "Nippon Oil Measures to Protect the Environment"
  6. ↑ "Nippon Announces Fuel Cell"
  7. ↑ "Nippon Oil Award"
  8. ↑ The YouTube account associated with this video has been terminated due to multiple third-party notifications of copyright infringement. youtube.com. Archived from the original on July 7, 2015.
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