Japan expects sharp drop in oil demand for power

摘要

Tokyo-Japan's crude and fuel oil demand for power generation over October-March is expected to drop by 20-30% from a year ago, if the country's demand for power generation is flat year on year. The drop over the second half of fiscal 2013-14 (April-March) is anticipated as Tokyo Electric Power Company and Kansai Electric, the country's top two consumers of oil for power generation, have added more coal and gas-fired capacities in the current fiscal year, Petroleum Association of Japan President Yasushi Kimura said at a press conference Thursday.