Japanese refiners eye power generation, PC capacity, and abroad.

摘要

With the country's oil demand apparendy in terminal decline, refiners in Japan are looking for ways to diversify their operations—and may have found one in the country's power generation industry. Recent reforms to the way the power industry is regulated, together with the country's nuclear power woes, have created the opportunity, said SMBC Nikko Securities analyst Hidetoshi Shioda. "Refiners have to launch projects quickly to take advantage of power market reform, and the quicker, the better," he said. "The pace of investments is accelerating from last year, and will probably peak this year amid the shutdowns of nuclear plants." Currendy, TonenGeneral is working on two large-scale power plants, and JX Nippon Oil & Energy is said to be considering an expansion of the 800-MW power plant it co-owns with Tokyo Gas.