<article><p class="lead">Japanese refiner Eneos plans to sell all its upstream coal assets in Australia and Canada with the global trend toward decarbonisation.</p><p>It did not disclose to whom it will sell the assets to and for what value.</p><p>Eneos owns a 13.3pc stake in the 9mn t/yr Bulga coal mine in Australia's New South Wales, along with 25pc of the proposed 9.5mn t/yr <a href="https://direct.argusmedia.com/newsandanalysis/article/789871">Sukunka and Suska</a> coal mine in Canada's British Columbia.</p><p>The company also operates a 2.7mn t/yr coal transhipment terminal in south Japan's Yamaguchi prefecture, although it has not decided whether to shut it. Eneos delivers around 10mn t/yr of coal to Japanese consumers. It has not finalised a withdrawal from its coal trading business as it is currently in discussions with its customers.</p><p>Eneos plans to sell parts of its upstream crude assets, although it has not disclosed any further details.</p><p>The company has attempted to reshape its downstream operations with demand for conventional gasoline and oil products expected to shrink. It <a href="https://direct.argusmedia.com/newsandanalysis/article/2214155">plans to acquire</a> elastomer operations from Japanese petrochemical company JSR, including JSR and Hungarian integrated firm Mol's styrene butadiene rubber <a href="https://direct.argusmedia.com/newsandanalysis/article/2180700">joint venture</a>, targeting to complete the transaction by April 2022.</p><p class="bylines">By Nanami Oki</p></article>
