Japanese petrochemical company, Cosmo Oil is supplying 18.9 million barrels/year of oil products to local petroleum company, Kygnus Sekiyu, from 2020. Cosmo Oil has a combined 363,000 barrel/day refining capacity over three refineries in Japan. Cosmo oil anticipates to procure products externally to cover the supply volume required for Kygnus. Cosmo would mainly supply gasoline and gasoil to Kygnus.
Kygnus, a joint venture between Cosmo Energy Holdings (20%) and San-ai Oil Co (80%), currently gets most of its oil- product supplies from Japan’s largest refiner, JXTG Nippon Oil and Energy, on a long-term contract scheduled to expire by end of 2019.