JX Nippon Oil to expand its regional operations
Japan's JX Nippon Oil & Energy Corporation (NOE) opened its new corporate office in the UAE which will help expand its operations in the Middle East and Africa.
Michio Ikeda, Senior Vice-President of JX Nippon Oil & Energy Corporation, (pictured above) said that the expansion in the Middle East and Africa regions was in line with the group's strategy to expand into promising international markets. In the Middle East, the group is handling oil and gas exploration and production businesses in Abu Dhabi but also in Qatar recently.
Ikeda officially opened JX Nippon Oil & Energy Middle East & Africa FZE, NOE's new corporate office in Dubai's Jebel Ali Free Zone, in the presence of senior officials from the Jebel Ali Free Zone Authority (JAFZA), Japanese consuls and senior JX Nippon Oil & Energy officials.
Outlining the expansion strategy, Ikeda said: "Our growth in high-growth international markets is imperative, considering that the world's demand for energy is increasing exponentially, especially in Asia, and that international competition for acquiring rights for development of oil and gas resources is becoming increasingly intense."
The new corporate office in the UAE will be overseeing the group's lubricants business in the Middle East, Africa, Pakistan and several countries in the CIS Region and will be headed by its Managing Director Tomohiko Kagawa.