Singapore—Japan’s Ministry of Economy, Trade and Industry wants the country’s oil refiners to submit new restructuring plans by the end of this month. The country’s refining sector—which only completed the last round of capacity cuts and efficiency improvements at the end of March—will be asked to cut yet more capacity over the next three years, according to METI “We looked at financial performance [for the previous fiscal year], and found refiners still had something to do,” a METI spokesman said Monday.
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