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Louisiana Light • 5 days | 73.60 | -0.15 | -0.20% | ||
|
Bonny Light • 126 days | 78.62 | -2.30 | -2.84% | ||
|
Opec Basket • 5 days | 72.88 | -0.85 | -1.15% | ||
|
Mars US • 417 days | 73.93 | -1.23 | -1.64% | ||
|
Gasoline • 11 mins | 1.966 | +0.028 | +1.43% |
|
Bonny Light • 126 days | 78.62 | -2.30 | -2.84% | ||
|
Girassol • 126 days | 79.56 | -1.80 | -2.21% | ||
|
Opec Basket • 5 days | 72.88 | -0.85 | -1.15% |
|
Peace Sour • 8 hours | 62.29 | -0.22 | -0.35% | ||
|
Light Sour Blend • 8 hours | 64.14 | -0.22 | -0.34% | ||
|
Syncrude Sweet Premium • 8 hours | 67.39 | -0.22 | -0.33% | ||
|
Central Alberta • 8 hours | 62.34 | -0.22 | -0.35% |
|
Eagle Ford • 5 days | 66.39 | -0.67 | -1.00% | ||
|
Oklahoma Sweet • 5 days | 66.50 | -0.50 | -0.75% | ||
|
Kansas Common • 5 days | 56.74 | -0.67 | -1.17% | ||
|
Buena Vista • 5 days | 76.83 | -0.67 | -0.86% |
Green Hydrogen Costs Set to Stay Too High For Too Long
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Japanese Refiner Plans IPO for Metals Unit
Japanese refiner Eneos is mulling over an initial public offering for its subsidiary JX Advanced Metals Corp, putting up as much as 70% of the company for sale and eyeing potential proceeds of up to $4.5 billion.
According to a Bloomberg report, the IPO is set to be discussed by the company’s board this Friday, with a discussion set to center on the amount of shares the company would offer. Unnamed sources told Bloomberg that Eneos’ chief executive is in favor of a smaller offering of 50.1% while some members of the board favor the larger offering. The energy major will be taking advantage of a “hot” IPO market in Japan this year, Bloomberg noted in its report.
The IPO scene in Japan has seen some pretty large listings this year, including Tokyo Metro’s initial offering, which became the largest such deal for the last six years, valuing the company at $2.3 billion. The listing, which took place in October, was eclipsed by the initial public offering of memory chip maker Kioxia, which debuted on the stock market this week with a value of some $5.8 billion.
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Eneos is one of the biggest energy companies in Japan and, like sector players, it has been diversifying into transition technologies. Recently, the company struck a deal with H.E. Energy to partner on building solar installations with a combined capacity of 5 MW in Japan. It also plans to invest $200 million in the development of green hydrogen production in Queensland, Australia.
Japan is one of the most import-dependent countries in the world when it comes to energy. These imports are overwhelmingly made up of hydrocarbons but the country is also pursuing an energy transition agenda, which has made it reconsider its previous stance on nuclear power. Green hydrogen is also an item in the transition agenda although its popularity among transition advocates has begun to fade recently, mostly due to cost considerations.
By Charles Kennedy for Oilprice.com
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