Japan pushes for more upgraded refining base

摘要

Tokyo has released new upgrading targets for the Japanese refining sector, as it admits it is unlikely to become a leading products exporter. Poor export infrastructure makes it unrealistic for Japan’s refiners to increase product sales to the regional market while its domestic market contracts, industry and trade ministry Meti says. Meti has outlined plans for a new wave of refinery rationalisation after an earlier law forced refiners to boost the ratio of upgrading capacity to crude distillation capacity earlier this year (AGM, 13 June, p5). The proposal urges refiners to boost upgrading capacity above 50pc of crude capacity by April 2017 from 45pc now (see table, below).