The refinery, with 300,000-mt/yr of capacity for Group I 150SN, 500SN and BS150 base oils production, shut its units for regular maintenance since early October, which would last for 40-50 days. It sent base oils to long-term contracted clients only at present, so spot cargoes were scarce in the Japanese market, a source with Japan's another base oil producer said.
With the tightening of domestic supplies in Japan, Japanese suppliers were likely to hike offers for exports in October and November, pointed out a Chinese importer. Moreover, crude benchmarks kept hovering at above US$80/bbl, which would also underpin the exporting prices. Thus most Chinese importers believed that offers from Japan would rise in near term.
Japan s major base oil suppliers include Idemitsu Kosan Co Ltd, JX Nippon Oil & Energy Corporation, Showa Shell Sekiyu K.K and Cosmo Oil Co Ltd.
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