ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Japan's Idemitsu earmarks $1.4bn for clean energy projects

Petroleum group to slash refinery capacity in green transition

Idemitsu will install production equipment for sustainable aviation fuel in Chiba prefecture and create a site for receiving imported ammonia in western Japan. (Photo by Kosuke Imamura)

TOKYO -- Japanese oil refiner Idemitsu Kosan will invest 190 billion yen ($1.36 billion) to establish infrastructure for sustainable aviation fuel and imported ammonia as it shifts toward becoming a reliable supplier of greener energy.

The petroleum group, anticipating falling demand for fuel, also intends to slash its oil refinery capacity. The commitments were outlined Wednesday in Idemitsu's three-year business plan taking effect in April.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more