Idemitsu aims to cut 100,000 b/d capacity

摘要

Tokyo—Japanese refiner Idemitsu Kosan is looking to cut some 100,000 b/d of its refining capacity by fiscal 2013-14 (April-March), the company said April 22. Speaking at a press conference in Tokyo, Idemitsu President Kazuhisa Nakano said: “We intend to weigh various options over the next one year,” declining to elaborate on where the cuts might be made. Idemitsu Kosan’s top executives had previously indicated the possibility of such a move, given Japan’s shrinking domestic oil demand.