TOKYO, Dec 28 - Japan Energy Corp, the nation's sixth-biggest oil refiner, said on Monday it plans to refine 5 percent more crude oil in January-March from a year earlier due in part to refinery maintenance the previous year.
Japan Energy, the refining unit of Nippon Mining Holdings Inc (5016.T), plans to refine 5.49 million kilolitres (384,000 barrels per day) of crude oil including condensate in the first quarter of 2010, a company spokesman said.
Crude processing volumes will be down 12 percent from the same period in 2008, however, indicating continued poor demand partially due to the popularity of energy-efficient products such as hybrid cars.
Excluding condensate, the company's crude refining will rise 2 percent from a year earlier to 4.62 million kl in January-March, the spokesman added.
For the October-December period, Japan Energy estimated its crude refining volume at 5.45 million kl, including condensate, down 12 percent from a year earlier and down from its initial plan of 5.56 million kl.
Excluding condensate, crude refining volumes for October-December are estimated to have fallen 15 percent from a year earlier to 4.73 million kl, down from its initial plan of 4.86 million kl, the spokesman said.
Japan Energy has the capacity to refine 475,200 barrels of crude oil and condensate per day.
The crude refining plan does not include volumes to be processed at a new 35,000 barrel-per-day condensate splitter at the company's 205,200 bpd Mizushima refinery in western Japan, which began trial operations in August.
The splitter is owned by Research Association of Refinery Integration for Group-Operation (RING), a consortium of refiners and chemical firms.
Products from the new splitter are being supplied to Japan Energy and its Mizushima industrial complex partners as part of a project to enhance competitiveness through cooperation.
Nippon Oil Corp (5001.T), Japan's top refiner, and merger partner Nippon Mining Holdings Inc said on Friday they will shut down several crude distillation units to cut refining capacity in the face of declines in domestic oil demand.
Japan Energy, the refining unit of Nippon Mining Holdings Inc (5016.T), plans to refine 5.49 million kilolitres (384,000 barrels per day) of crude oil including condensate in the first quarter of 2010, a company spokesman said.
Crude processing volumes will be down 12 percent from the same period in 2008, however, indicating continued poor demand partially due to the popularity of energy-efficient products such as hybrid cars.
Excluding condensate, the company's crude refining will rise 2 percent from a year earlier to 4.62 million kl in January-March, the spokesman added.
For the October-December period, Japan Energy estimated its crude refining volume at 5.45 million kl, including condensate, down 12 percent from a year earlier and down from its initial plan of 5.56 million kl.
Excluding condensate, crude refining volumes for October-December are estimated to have fallen 15 percent from a year earlier to 4.73 million kl, down from its initial plan of 4.86 million kl, the spokesman said.
Japan Energy has the capacity to refine 475,200 barrels of crude oil and condensate per day.
The crude refining plan does not include volumes to be processed at a new 35,000 barrel-per-day condensate splitter at the company's 205,200 bpd Mizushima refinery in western Japan, which began trial operations in August.
The splitter is owned by Research Association of Refinery Integration for Group-Operation (RING), a consortium of refiners and chemical firms.
Products from the new splitter are being supplied to Japan Energy and its Mizushima industrial complex partners as part of a project to enhance competitiveness through cooperation.
Nippon Oil Corp (5001.T), Japan's top refiner, and merger partner Nippon Mining Holdings Inc said on Friday they will shut down several crude distillation units to cut refining capacity in the face of declines in domestic oil demand.
