JX Holdings to expand overseas lube sales

JX Holdings Inc. aims to double overseas sales of lubricants for automobiles and construction machinery to 600,000 kiloliters (kl) by fiscal 2015 from 2009 levels by establishing sales units in India and Vietnam by 2011. Nippon Oil Corp., the petroleum unit of JX, established offices in India and Vietnam after April 2009. JX plans to upgrade these offices to local companies and increase the local headcount. Japan Energy Corp., another JX unit, is slated to merge its oil refinery sales business, including lubricants, with that of Nippon Oil in July. Japan Energy has cooperative ties with French oil major Total SA, and also has a sales network in China. Nippon Oil and Japan Energy will pursue synergy in sales and other areas. (May 8, 2010)