Cosmo Oil Company

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Cosmo Oil Co., Ltd.
Native name
 コスモ石油株式会社
Public KK
Traded as TYO: 5007
Industry Oil and gas
Founded merger of Maruzen Petroleum and Daikyo Petroleum
(April 1, 1986; 38 years ago (1986-04-01))
Headquarters Shibaura, Minato, Tokyo, Japan
Key people
 Yaichi Kimura
(Chairman)
Keizo Morikawa
(President and CEO)
Products
Services Filling stations
Revenue Increase JPY 3,537 billion (FY 2013) (US$ 34.3 billion) (FY 2013)
Increase JPY 4.34 billion (FY 2013) (US$ 42.1 million) (FY 2013)
Number of employees
 1,837 (consolidated, as of March 31,2014)
Website Official website
Footnotes / references
[1]

Cosmo Oil Company, Limited (コスモ石油株式会社 Kosumo Sekiyu Kabushiki-gaisha?) is a Japanese petrochemical company. It is Japan's third-biggest refiner by sales after JX Holdings and Idemitsu Kosan.[2]

History

Cosmo traces its corporate roots to Maruzen Petroleum (丸善石油株式会社), a company established in 1931, although the oil business operated by Maruzen was originally established by Zenzo Matsumura in Kobe in 1907.

Cosmo Oil Company was formed on April 1, 1986, through the merger of Maruzen Petroleum and Daikyo Petroleum, a group of oil businesses based in Niigata Prefecture which merged in 1939.

A major fire occurred at the Cosmo refinery in Ichihara as a result of the 2011 Tōhoku earthquake.[3][4][5] It was extinguished after ten days, killing[citation needed] or injuring six people, and destroying storage tanks[6]

In February 2015, the company said it will reorganize itself under a holding company to boost profitability.[2] Also in 2015, in March, Cosmo Oil formed an LPG joint-venture by merging its LPG business with three other company's LPG units. The new company, named Gyxis Corporation will start effective operations on April 1, 2015.[7] Along Cosmo the other three shareholding companies are Showa Shell Sekiyu, TonenGeneral Sekiyu, and Sumitomo Corporation, all with 25% of the ownership.[8]

Refineries

Cosmo operates three refineries, all of which are located in Japan:[9]

  • Ichihara, Chiba (former Maruzen refinery): 220,000 barrels per day (35,000 m3/d)
  • Yokkaichi, Mie (former Daikyo refinery): 175,000 barrels per day (27,800 m3/d)
  • Sakai, Osaka (former Maruzen refinery): 100,000 barrels per day (16,000 m3/d)

In August 2012, the company announced that it will close its Sakaide plant, in southwest Japan.[10] The refinery, which was closed and turned into an oil terminal in July 2013,[9] was a former Asia Oil refinery with a capacity of 120,000 barrels per day (19,000 m3/d).

Gallery
Explosion and fire at Cosmo refinery in Ichihara, Chiba, following the 2011 Tōhoku earthquake 
A Cosmo service station in Osaka
A Cosmo service station in Osaka 
A Cosmo LPG truck
A Cosmo LPG truck 
An aerial view north-west of the Port of Chiba (Cosmo Chiba refinery seen left of the river mouth)
An aerial view north-west of the Port of Chiba (Cosmo Chiba refinery seen left of the river mouth) 

See also

References

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  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

  • No URL found. Please specify a URL here or add one to Wikidata. (English)

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