JX Nippon Oil & Energy, Japan's largest oil refiner, said that negotiations with PetroChina on the formation of a joint venture have ended and the two companies will jointly operate the Osaka refinery. According to an agreement reached by both parties, from October 1st this year, PetroChina will be responsible for the marketing of refined oil produced by the Osaka refinery, which can determine the type, output, and export destination of the refined oil; and JX Nippon Oil & Energy will be responsible for the plant's Operation. JX Nippon Oil & Energy holds a 51% stake in the joint venture and PetroChina holds the remaining equity. According to public information, the daily processing volume of crude oil at the Osaka refinery is 115,000 barrels per day. The refined oil produced is exclusively exported. Fine Thread Hex Flange Nut,Fine Pitch Thread Hex Flange Nut,Auto Nut Nuts,Bolts,Screws Co., Ltd. , http://www.nssteelfasteners.com