Sumitomo Corporation (President and CEO: Susumu Kato; Head Office: Chuo-ku, Tokyo) advises that it will be entered an agreement for 12.5% of share sale of Nansei Sekiyu Kabushiki Kaisha (located in Okinawa., hereinafter referred as Nansei) to Petrobras Internation Braspetro B.V. in the Netherlands, wholly-owned subsidiary by Petrobras S.A.

 

Sumitomo Corporation has been engaged in management and operation of Nansei more than 40 years, and for last 2-years managed together with Petrobras. Recently, Sumitomo is reviewing its portfolio in petroleum products business, and decided to withdraw from Nansei and shift to another business opportunity such as overseas trading business, etc.

 

Notwithstanding withdrawal from Nansei, Sumitomo, Petrobras and Nansei will keep their good relation and continue their business transaction for crude oil supply and petroleum products purchasing.

 

 

Related link

• Mineral Resources, Energy, Chemical & Electronics Business Unit

 

Rerated release

• Sumitomo agreed with Petrobras Joint refining business in Nansei Sekiyu K.K.