Japan’s JX to Accelerate Timetable for Refinery Closures

摘要

Japan’s JX Holdings is to speed up its planned timetable for shuttering 600,000 barrels per day of refining capacity by one year to March 2014. The newly merged company says it may end up cutting total ca- pacity to 1 million b/d by 2020 from 1.792 million b/d now, although a JX spokesman emphasized that this is not a firm target, and will depend whether the country still has ex- cess downstream capacity by then.