JXTG Holdings Inc., the largest of the country's major oil wholesalers, is planning to begin selling city gas by March, company President Tsutomu Sugimori said.
In an interview with The Yomiuri Shimbun, Sugimori revealed that the company aims to acquire 100,000 new customers by offering them cheaper set prices through bundling gas with electric power, which the company has already begun selling.
JXTG was providing electric power to 530,000 customers as of November last year.
"With our Eneos [service station] brand, we've built a sense of security and brand recognition among consumers for many years. We'd like to use them to set our company apart," he said.
Little growth is expected in its main gasoline wholesale business because the fuel market has shrunk due to the improved fuel economy of automobiles. The company intends to diversify its sources of revenue by launching sales of city gas.
Meanwhile, regarding resumption of Iranian crude oil imports, Sugimori said, "I think they will resume possibly by the end of January, but you never know what will happen under the administration of [Donald] Trump," indicating he is closely watching moves in the United States and the situation in the Middle East.
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