Two of Japan's biggest refiners to merge key operations in 2018
Tokyo
JAPANESE refiners Idemitsu Kosan and Showa Shell Sekiyu will combine management of their key businesses, an Idemitsu spokesman said on Tuesday, pursuing a merger bitterly opposed by a core investor - Idemitsu's founding family.
Japan's second and fourth biggest refiners will form an office next spring with a staff of about 300 to manage crude oil purchases, refining and sales, seeking to cut costs by 30 billion yen (S$358.6 million) over three years, Idemitsu s…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Orsted says Taiwan wind project to power TSMC on track for 2025 finish
Gold edges down as Middle East worries ebb
Oil rises as dollar slips, focus shifts to economic data
California to wrap up ExxonMobil plastics probe ‘in weeks’, AG says
Gold edges higher; hovers near one-week low on tempered Middle East fears
Why has gold’s inverse relationship with the US dollar reversed?