Eneos Pursues Global Expansion Deals
Japanese refiner Eneos is expanding its overseas footprint with major asset purchases in Asia and the United States. The company aims to boost revenue sources as domestic fuel demand declines.
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ENEOS HOLDINGS INC will spend over $3.2B on overseas acquisitions in Japan's refiner push, targeting $250M in operating profit by fiscal 2030. The pivot follows a loss-making renewable energy foray and shrinking domestic demand for fossil fuels. Overseas revenue share will nearly double to 30% from 16% upon closing the transactions.
