Petróleo Brasileiro, known as Petrobras, has announced that its board of directors has approved the sale of Nansei Seikyu to Taiyo Oil Company.
NSS is fully owned by Petrobras International Braspetro (PIB BV) and located on the Island of Okinawa, Japan.
It has a refinery with a processing capacity of 100,000 barrels of oil per day, 36 tanks that store 9.5 million barrels of oil and oil products, three piers for loading and unloading ships in addition to a monobuoy.
The refinery and monobuoy are currently under hibernation.
NSS offers terminal services that serve around 50% of Okinawa’s market.
Taiyo is a privately held Japanese company headquartered in Tokyo, which imports, exports, refines and sells oil products.
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By GlobalDataIt has nine offices / branches including one oil refinery in Japan and manufactures, processes and sells petrochemical products.
The sale price of NSS is $129.28 million and will be fully paid at the completion of the transaction, which is expected in December.
This transaction is part of Petrobras’ divestment plan and is in line with its strategic plan. Its closing is subject to certain usual conditions precedent, including approval by the regulatory authorities.
