Cosmo Oil and Kyokuto Petroleum discuss collaboration of Chiba Refineries

Cosmo Oil Co., Ltd, Mitsui Oil Co., Ltd and TonenGeneral Sekiyu K.K. announce the conclusion today of an initial memorandum regarding their agreement to begin discussing the pursuit of collaboration opportunities for greater operational efficiency and optimization at the Cosmo Oil Chiba refinery (capacity: 240,000 bbl/day) and the Chiba refinery (capacity: 175,000 bbl/day) of Kyokuto Petroleum Industries Godo Kaisha.

Cosmo Oil, Mitsui Oil and TonenGeneral intend to seek means to utilize the proximity of the two refineries, located in the Keiyo Rinkai Industrial Zone, and each refinery's respective configurations in order to improve operational efficiency of both refineries thereby increasing their competitiveness both domestically and internationally. The three companies have agreed to begin discussing the specifics of this matter.

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