Brief: Idemitsu President: We Need To Reassess Our 2030 And 2040 Decarbonization Targets

Idemitsu Kosan Co

11/11/2025 08:05

Nov 11 (Reuters) - Idemitsu Kosan Co Ltd 5019.T President:

AIM TO ACHIEVE PROFITABILITY IN NGHI SON REFINERY IN VIETNAM AROUND 2030

WE NEED TO REASSESS OUR 2030 AND 2040 DECARBONIZATION TARGETS

WE WON’T CHANGE OUR DIRECTION TOWARD CARBON NEUTRALITY, BUT WE ARE REASSESSING NECESSARY TIMELINE, INCLUDING TIMING AND PACE OF OUR NEXT-GENERATION FUEL INITIATIVES

WHILE U.S. SANCTIONS ON RUSSIAN OIL MAY CHANGE DEMAND FOR MIDDLE EASTERN CRUDE, WE DON’T ANTICIPATE A SIGNIFICANT EFFECT ON CRUDE OIL PRICES

MIDDLE EASTERN OIL-PRODUCING COUNTRIES HAVE SPARE PRODUCTION CAPACITY AND SHOULD BE ABLE TO FULLY ABSORB CHANGES IN DEMAND

WE WANT TO DIVERSIFY OUR CRUDE OIL PROCUREMENT TO SOME EXTENT, INCLUDING U.S. SUPPLY BUT A LARGE-SCALE SHIFT IS NOT EASY OPERATIONALLY

Further company coverage: 5019.T

(Reporting by Yuka Obayashi)