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Japan’s Idemitsu to purchase stake from Showa Shell

by ChemOrbis Editorial Team -
  • 19/12/2016 (14:38)
According to media reports, Japan’s Idemitsu Kosan Co. is readying to purchase one-third of Showa Shell by the end of 2016 after their merger is approved early this week. After the approval, Idemitsu is expected to pay about 170 billion yen ($1.45 billion) to Showa Shell for the stake.

Media reports indicated that the domestic oil market is contracting. Idemitsu management said that merging companies seems to be the best measure to be taken in a market where five large and three small refineries compete.
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