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Nippon Oil buys lubricant maker

Written by Writer on Friday, October 24th, 2008

Nippon Oil buys lubricant maker

Bloomberg

Nippon Oil Corp. bought 55 percent of a lubricant producer from Italy’s Eni SpA and Singapore Petroleum Co. in an effort to boost sales in Southeast Asia.

ENEOS ItalSing Pte. operates a plant in Singapore with production capacity of 50,000 tons a year. Eni subsidiary Eni International BV and Singapore Petroleum each retain 22.5 percent stakes, Nippon Oil said Thursday.

The purchase is the latest by Nippon Oil, Japan’s biggest refiner.

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News Topics : Bloomberg, Eneos, Eni, Eni Spa, International Bv, Italy, Japan, Nippon Oil, Refiner, Singapore Petroleum Co, Southeast Asia, Subsidiary