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Cosmo Oil to Cut Refinery Output in Japan
14 September 2008
Japan-based Cosmo Oil Co. will cut crude oil refining in September by 11% from a year before to 2.04 million kiloliters (12.8 million barrels) because of slower domestic demand.
Cosmo operates four refineries in Japan, at Chiba, Yokkaichi, Sakai and Sakaide. The company plans to cut total refining by around 4% in September-December.
Last week Idemitsu Kosan Co. also announced a reduction in its crude oil refining by 14% to 7.5 million kiloliters for the fourth quarter of 2008 compared to the same period in 2007, due to decreasing demand. (Earlier post.)
September 14, 2008 in Brief | Permalink | Comments (2) | TrackBack (0)
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Posted by: gr | September 14, 2008 at 10:58 AM
Listen, poster. On this board we post only downbeat gloom. Anything positive like a lowering of petrol consumption does not belong and is not wanted. Please stop!
Posted by: NRG Nut | September 15, 2008 at 11:45 AM
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And consumption is going down or flat in nearly every industrialized country:
"Americans have also been consuming less oil overall. Total oil consumption data from the first half of 2008 compared with the first half of 2007 show that Americans consumed, on average, 925,000 barrels per day (or 4.5 percent) less." EIA 9/10/2008