Latest news with #Miyata
Observer
15-05-2025
- Business
- Observer
Japan's oil refiners scale back decarbonisation efforts, refocus on fossil fuels
TOKYO: Japanese oil companies are scaling back decarbonisation initiatives, including hydrogen and ammonia projects, amid a global shift towards more stable and cost-effective fossil fuels. The move reflects mounting concerns over energy security, US policy risks, and rising material costs driven by inflation, all of which undermine project profitability and predictability. Across the global energy sector, companies that had reoriented their portfolios to address climate change are increasingly refocusing on oil and gas, where returns have become more attractive following a rebound in fossil fuel prices from pandemic-era lows. "The trend toward a carbon-neutral society is slowing, and the full-scale bifurcation of the energy transition, previously expected around 2030, may be delayed," Eneos Holdings CEO Tomohide Miyata told a news conference this week. Japan's largest refiner is in no rush to supply hydrogen and ammonia, as surging costs are clouding the likelihood of capital investment, Miyata added. In its new three-year business strategy through March 2028, Eneos removed its previous target of supplying up to 4 million metric tons of hydrogen by fiscal year 2040. Instead, stable and affordable energy, including oil, has become more important amid the rising cost of decarbonisation technologies, Miyata said, adding the company would ramp up investment in liquefied natural gas. Idemitsu Kosan, Japan's No.2 refiner, has trimmed decarbonisation investment plans, cutting its budget for initiatives such as hydrogen, ammonia, and synthetic fuels from 1 trillion yen ($6.9 billion) to around 800 billion yen for the period from fiscal 2023 to 2030, President Noriaki Sakai said this week. "We sense that the momentum toward decarbonisation is slowing somewhat... and believe it is necessary to adopt a flexible approach regarding both the pathway and timeline to achieving a carbon-neutral society by 2050," he said. While the global slowdown in low-carbon solutions has become increasingly evident, these remarks are among the most explicit to date from Japanese oil executives to acknowledge it. In February, BP's strategy is to cut spending on renewables and lower-carbon solutions while increasing annual oil and gas spending. Norway's Equinor its 2030 target for investments in renewables and low-carbon solutions. At the energy sector's annual conference in Houston in March, executives from both fossil fuel and renewable companies touted the need to shift from "energy transition" to "energy additions". — Reuters
Yahoo
15-05-2025
- Business
- Yahoo
Japan's oil refiners scale back decarbonisation efforts, refocus on fossil fuels
By Yuka Obayashi TOKYO (Reuters) -Japanese oil companies are scaling back decarbonisation initiatives, including hydrogen and ammonia projects, amid a global shift towards more stable and cost-effective fossil fuels. The move reflects mounting concerns over energy security, U.S. policy risks, and rising material costs driven by inflation, all of which undermine project profitability and predictability. Across the global energy sector, companies that had reoriented their portfolios to address climate change are increasingly refocusing on oil and gas, where returns have become more attractive following a rebound in fossil fuel prices from pandemic-era lows. "The trend toward a carbon-neutral society is slowing, and the full-scale bifurcation of the energy transition, previously expected around 2030, may be delayed," Eneos Holdings CEO Tomohide Miyata told a news conference this week. Japan's largest refiner is in no rush to supply hydrogen and ammonia, as surging costs are clouding the likelihood of capital investment, Miyata added. In its new three-year business strategy through March 2028, Eneos removed its previous target of supplying up to 4 million metric tons of hydrogen by fiscal year 2040. Instead, stable and affordable energy, including oil, has become more important amid the rising cost of decarbonisation technologies, Miyata said, adding the company would ramp up investment in liquefied natural gas. Idemitsu Kosan, Japan's No.2 refiner, has trimmed decarbonisation investment plans, cutting its budget for initiatives such as hydrogen, ammonia, and synthetic fuels from 1 trillion yen ($6.9 billion) to around 800 billion yen for the period from fiscal 2023 to 2030, President Noriaki Sakai said this week. "We sense that the momentum toward decarbonisation is slowing somewhat ... and believe it is necessary to adopt a flexible approach regarding both the pathway and timeline to achieving a carbon-neutral society by 2050," he said. While the global slowdown in low-carbon solutions has become increasingly evident, these remarks are among the most explicit to date from Japanese oil executives to acknowledge it. In February, BP revamped its strategy to cut spending on renewables and lower-carbon solutions while increasing annual oil and gas spending. Norway's Equinor scrapped its 2030 target for investments in renewables and low-carbon solutions. At the energy sector's annual conference in Houston in March, executives from both fossil fuel and renewable companies touted the need to shift from "energy transition" to "energy additions". ($1 = 145.7600 yen) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
15-05-2025
- Business
- Reuters
Japan's oil refiners scale back decarbonisation efforts, refocus on fossil fuels
TOKYO, May 15 (Reuters) - Japanese oil companies are scaling back decarbonisation initiatives, including hydrogen and ammonia projects, amid a global shift towards more stable and cost-effective fossil fuels. The move reflects mounting concerns over energy security, U.S. policy risks, and rising material costs driven by inflation, all of which undermine project profitability and predictability. Across the global energy sector, companies that had reoriented their portfolios to address climate change are increasingly refocusing on oil and gas, where returns have become more attractive following a rebound in fossil fuel prices from pandemic-era lows. "The trend toward a carbon-neutral society is slowing, and the full-scale bifurcation of the energy transition, previously expected around 2030, may be delayed," Eneos Holdings (5020.T), opens new tab CEO Tomohide Miyata told a news conference this week. Japan's largest refiner is in no rush to supply hydrogen and ammonia, as surging costs are clouding the likelihood of capital investment, Miyata added. In its new three-year business strategy through March 2028, Eneos removed its previous target of supplying up to 4 million metric tons of hydrogen by fiscal year 2040. Instead, stable and affordable energy, including oil, has become more important amid the rising cost of decarbonisation technologies, Miyata said, adding the company would ramp up investment in liquefied natural gas. Idemitsu Kosan (5019.T), opens new tab, Japan's No.2 refiner, has trimmed decarbonisation investment plans, cutting its budget for initiatives such as hydrogen, ammonia, and synthetic fuels from 1 trillion yen ($6.9 billion) to around 800 billion yen for the period from fiscal 2023 to 2030, President Noriaki Sakai said this week. "We sense that the momentum toward decarbonisation is slowing somewhat ... and believe it is necessary to adopt a flexible approach regarding both the pathway and timeline to achieving a carbon-neutral society by 2050," he said. While the global slowdown in low-carbon solutions has become increasingly evident, these remarks are among the most explicit to date from Japanese oil executives to acknowledge it. In February, BP (BP.L), opens new tab revamped its strategy to cut spending on renewables and lower-carbon solutions while increasing annual oil and gas spending. Norway's Equinor ( opens new tab scrapped its 2030 target for investments in renewables and low-carbon solutions. At the energy sector's annual conference in Houston in March, executives from both fossil fuel and renewable companies touted the need to shift from "energy transition" to "energy additions". ($1 = 145.7600 yen)
CNN
29-01-2025
- Health
- CNN
Osaka bans public smoking ahead of Expo 2025
One of Japan's biggest cities is 'beautifying' itself ahead of hosting the World Expo — not by planting flowers, but by banning cigarettes. Osaka will soon host Expo 2025, which runs from April to October, with representatives from 158 countries and regions participating in talks, demonstrations and exhibitions. The ban on public smoking, which took effect on January 27, includes roads, parks, plazas and other public places and applies not only to cigarettes, but also to vapes. Violators will be fined 1,000 yen (about $6). 'Osaka City will expand its no-smoking areas to cover the entire city to enhance safety, cleanliness and its image as an international tourist destination,' city officials announced in a statement earlier this month. 'This initiative aims not only to beautify the city but also to ensure a safe, secure and comfortable living environment for residents and visitors.' Current national laws largely ban smoking in establishments such as restaurants, offices and public transportation, and some cities have bans in public places. It is also illegal for people under the age of 20 to smoke and buy tobacco. However, throughout Japan, it's common for airports, train stations and other public buildings to have dedicated smoking rooms. The World Health Organization estimates that the number of Japanese people who use tobacco and smoke cigarettes has roughly halved over the past two decades, declining from around 32% in 2000 to around 16% in 2022. A 2022 survey by Japan's Ministry of Health (MOH) found that 14.8% of adults smoke. The MOH has set a goal of lowering the national smoking rate to 12%. Compare that to the United States, where in 2022, 19.8% — nearly 1 in 5 — US adults reported current tobacco product use, according to the Centers for Disease Control and Prevention. After announcing the strict new rules around public tobacco use, Osaka's local government created a map showing where in the city it is still okay to light up. Similar anti-smoking measures have been implemented in other parts of Japan, including in Tokyo ahead of the 2020 Olympics, which have remained in place ever since. Some public figures have even been called out in the past for smoking underage. Arguably the most famous recent example was Shoko Miyata, captain of Japan's women's gymnastics team. Miyata withdrew from the Summer Olympics in Paris last year after admitting to smoking and drinking. She was 19 at the time. The six-month Expo 2025 runs from April 13 until October 13. The city has spent 164.7 billion yen ($1.16 billion) on the event, including major urban infrastructure projects. CNN Travel named the Kansai region — which includes Osaka — as one of its 25 places to visit in 2025.
Yahoo
29-01-2025
- Health
- Yahoo
Osaka bans public smoking ahead of Expo 2025
One of Japan's biggest cities is 'beautifying' itself ahead of hosting the World Expo — not by planting flowers, but by banning cigarettes. Osaka will soon host Expo 2025, which runs from April to October, with representatives from 158 countries and regions participating in talks, demonstrations and exhibitions. The ban on public smoking, which took effect on January 27, includes roads, parks, plazas and other public places and applies not only to cigarettes, but also to vapes. Violators will be fined 1,000 yen (about $6). 'Osaka City will expand its no-smoking areas to cover the entire city to enhance safety, cleanliness and its image as an international tourist destination,' city officials announced in a statement earlier this month. 'This initiative aims not only to beautify the city but also to ensure a safe, secure and comfortable living environment for residents and visitors.' Current national laws largely ban smoking in establishments such as restaurants, offices and public transportation, and some cities have bans in public places. It is also illegal for people under the age of 20 to smoke and buy tobacco. However, throughout Japan, it's common for airports, train stations and other public buildings to have dedicated smoking rooms. The World Health Organization estimates that the number of Japanese people who use tobacco and smoke cigarettes has roughly halved over the past two decades, declining from around 32% in 2000 to around 16% in 2022. A 2022 survey by Japan's Ministry of Health (MOH) found that 14.8% of adults smoke. The MOH has set a goal of lowering the national smoking rate to 12%. Compare that to the United States, where in 2022, 19.8% — nearly 1 in 5 — US adults reported current tobacco product use, according to the Centers for Disease Control and Prevention. After announcing the strict new rules around public tobacco use, Osaka's local government created a map showing where in the city it is still okay to light up. Similar anti-smoking measures have been implemented in other parts of Japan, including in Tokyo ahead of the 2020 Olympics, which have remained in place ever since. Some public figures have even been called out in the past for smoking underage. Arguably the most famous recent example was Shoko Miyata, captain of Japan's women's gymnastics team. Miyata withdrew from the Summer Olympics in Paris last year after admitting to smoking and drinking. She was 19 at the time. The six-month Expo 2025 runs from April 13 until October 13. The city has spent 164.7 billion yen ($1.16 billion) on the event, including major urban infrastructure projects. CNN Travel named the Kansai region — which includes Osaka — as one of its 25 places to visit in 2025.
