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(ICIS) -- Japan will have to maintain
higher refining rates and continue to allow the use of oil products from
emergency reserves to mitigate the shortfall created by the continued shutdown
of three refineries following the earthquake, industry sources said on
Friday.
The three refineries totalling 617.500 bbl/day, or 14% of the overall
country’s refining capacity, remain shut following the devastating earthquake
and tsunami of 11 March.
These include JX Nippon’s 145.000 bbl/day Sendai refinery, which is
located at Miyagi prefecture in northeast Japan, its 252.500 bbl/day Kashima
refinery in Ibaraki prefecture, and Cosmo Oil’s 220.000 bbl/day Chiba
facility.
Authorities in Japan, which is the world’s third-largest oil consumer,
have moved to alleviate the country’s shortfall in oil products by increasing
the operating rates at other refineries and allowing the release of oil products
from emergency industry reserves.
In addition, refiners have increased their oil product purchases from the
international market.
mrcplast.com
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