SOURCE: Industrial Info Resources

Industrial Info Resources

March 17, 2011 19:00 ET

Japan's Operating Refineries Pick Up Slack From Lost Production, an Industrial Info News Alert

TOKYO--(Marketwire - March 17, 2011) - Written by Gordon Murray, Managing Director of Industrial Info Resources East Asia (Kofu, Japan) -- Following the destruction caused by the magnitude 9.0 earthquake, Japan's oil refining capacity has been significantly crippled by damage to Cosmo Oil Company's (TYO:5007) (Tokyo) 220,000-barrel-per-day (BBL/d) Chiba refinery and JX Nippon Oil's (Tokyo) 145,000-BBL/d Sendai refinery. At the time of writing, fires have not been extinguished at Cosmo Oil's Chiba refinery, but had been put out at JX Nippon Oil's Sendai refinery.

Refineries, including Exxon Mobil Corporation's (NYSE:XOM) (Irving, Texas) 335,000-BBL/d Kawasaki refinery were shut down for damage assessment following the earthquake and tsunami.

Japan's other refineries are ramping up production in order to meet demand.

Currently, IIR has researched and confirmed several changes in production, including:

  • Nishihara refinery, owned by Petrobras (NYSE:PBR) (Rio de Janeiro) and Nansei Sekiyu - previous levels of production prior to the earthquake were 60,000 BBL/d, but have now increased 24% to 74,400 BBL/d. The refinery's maximum capacity is 100,000 BBL/d. The owners are considering increasing to maximum production, but have not made any firms plans yet.

  • Idemitsu Kosan's (TYO:5019) (Tokyo) Chiba refinery - producing at full capacity of 220,000 BBL/d as of March 15. Prior to the quake, Idemitsu Chiba was producing about 160,000 BBL/d....

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