VOL. XLVI

No 13

31-March-2003

SUPPLY/DEMAND

Japanese Refiners To Shut Down Further Capacity, Says FACTS

Japanese refiners Idemitsu Kosan and Nippon Oil have broken the deadlock over plant closures in the face of excess capacity, according to Honolulus FACTS Inc. In the report Japans Refining Industry: An Update, published in March, FACTS analysts Tomoko Hosoe and Fereidun Fesharaki said that a number of small closures and mothballing during 1999-2001 reduced Japanese refining capacity by a total...