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Cosmo Oil Company, Limited (コスモ石油株式会社,Kosumo Sekiyu kabushiki gaisha) is a Japanesepetrochemical company. It is Japan's third-biggest refiner by sales afterEneos andIdemitsu Kosan.[2]
Cosmo in Japan traces its corporate roots toMaruzen 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 inKobe 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 inNiigata Prefecture, which merged in 1939.
A major fire occurred at the Cosmo refinery in Ichihara, as a result of the2011 Tōhoku earthquake.[3][4][5] It was extinguished after ten days, injuring six people and destroying storage tanks[6] The ultimate cause was traced to the collapse of supports forLPG Tank 364, which had been filled with water and undergoing hydrostatic testing at the time the earthquake struck. The collapse fractured LPG pipes, releasing gas that then ignited, in turn igniting LPG in several adjacent tanks.[7]
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, namedGyxis Corporation, started effective operations on April 1, 2015.[8] Along Cosmo, the other three shareholding companies areShowa Shell Sekiyu, TonenGeneral Sekiyu, andSumitomo Corporation, all with 25% of the ownership.[9]
Cosmo operates three refineries, all of which are located in Japan:[10]
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 itsSakaide plant in southwest Japan.[11] The refinery, which was closed and turned into an oil terminal in July 2013,[10] was a former Asia Oil refinery with a capacity of 120,000 barrels per day (19,000 m3/d).
JPY 3,537 billion (FY 2013) (US$ 34.3 billion) (FY 2013).jpg)
(in English)
