Japan's largest oil company may acquire Tepco power station

According to Japan’s “Asahi Shimbun” report on December 21, Japan’s largest oil company, JX Nippon Oil & Energy Corp., said recently that they may sell power to Tokyo Electric Power Co., Ltd. and discuss the purchase of Tokyo. Power company power station possible.

Since the nuclear accident at the Fukushima nuclear power plant broke out, Tokyo Electric Power Co., Ltd. has fallen into the dilemma of providing huge compensation to the parties. Tokyo Electric Power Company has stated that they will give up some long-standing policies and will not rely entirely on their own power stations to generate electricity, and will gradually increase the amount of electricity purchased from other power companies to meet demand. In addition, Tokyo Electric Power Corporation also consider selling some power stations.

Yasushi Kimura, president of Nippon Oil Corporation, said: “The current situation hides huge business opportunities. We will make various possible choices, including building and purchasing power stations.” Nippon Oil Corporation's existing power generation The facility can provide 1.3 gigawatts of electricity and they are planning to increase their generating capacity.

As it insists on purchasing oil from Iran, Japan is facing increasing international pressure and Iranian oil accounts for 8% of the total supply of New Japan Oil Corporation. Kimura said that although the United States is stepping up its sanctions against Iran, Nippon Oil Corporation will continue its efforts to obtain oil from Saudi Arabia and other countries.