Native name コスモ石油株式会社 Traded as TYO: 5007 Headquarters Tokyo, Japan | Industry Oil and gas Founded 4 September 1939 | |
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Products PetroleumNatural gasMotor fuelsAviation fuelsPetrochemicalsWind power generation CEO Keizo Morikawa (Jun 2012–) Parent organization COSMO ENERGY HOLDINGS CO LTD Profiles | ||
Cosmo Oil Company, Limited (コスモ石油株式会社, Kosumo Sekiyu Kabushiki-gaisha) is a Japanese petrochemical company. It is Japan's third-biggest refiner by sales after JX Holdings and Idemitsu Kosan.
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History
Cosmo traces its corporate roots to Maruzen 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 in Kobe 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 in Niigata Prefecture which merged in 1939.
A major fire occurred at the Cosmo refinery in Ichihara as a result of the 2011 Tōhoku earthquake. It was extinguished after ten days, killing or injuring six people, and destroying storage tanks
In February 2015, the company said it will reorganize itself under a holding company to boost profitability. 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, named Gyxis Corporation will start effective operations on April 1, 2015. Along Cosmo the other three shareholding companies are Showa Shell Sekiyu, TonenGeneral Sekiyu, and Sumitomo Corporation, all with 25% of the ownership.
Refineries
Cosmo operates three refineries, all of which are located in Japan:
In August 2012, the company announced that it will close its Sakaide plant, in southwest Japan. The refinery, which was closed and turned into an oil terminal in July 2013, was a former Asia Oil refinery with a capacity of 120,000 barrels per day (19,000 m3/d).