Japanese oil firm enters South Africa

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Japan’s top oil refiner, JX Nippon Oil & Energy Corporation has opened its first Africa representative office in Johannesburg, Africa, signaling a possible business expansion on the continent.
The company, which is known as a in refining and distributing petroleum and petrochemical products, hopes partner with African oil companies in the upstream (exploration) and downstream (retail).
It already has Africa’s integrated energy and chemical company, Sasol as one of its in the -from-gas business.
JX Nippon’s present research finding indicates that demand in the lubricating oil industry is expected increase at 2 percent a year until 2020. Thus, it plans conduct a comprehensive marketing research that will help sustain its business in the continent.
Takahiro Nomura, GM of the Johannesburg office, said while the company is looking for more partnership in Africa, the level of its investment would be determined after the company had conducted extensive market research.
Nevertheless, the company’s Vice- Yasuji Araki told Africa’s Business Day that the company’s expansion ambition would not be held back.
“In the next 10 years we want make a big success of the South African business,” Araki said.
By opening its first fully fledged representative office in South Africa, the company hopes to take advantage of Africa burgeoning economy by growing its footprint across the continent. (VENTURES AFRICA)