Idemitsu, Showa Shell to cut back on crude run

Idemitsu Kosan Co. and Showa Shell Sekiyu K.K. said they will temporarily suspend operations of their oil refineries in Fiscal 2010 due to slack demand for gasoline and other petroleum products in Japan. Idemitsu plans to reduce the amount of crude oil to be refined in Fiscal 2010 by 4% from the previous year, to 26 million kiloliters. It will suspend operations at three refineries in Hokkaido, Yamaguchi and Aichi prefectures for around one month each during the year starting in April to save 1 billion yen (US$11.14) in costs. Showa Shell, meanwhile, said it will suspend operations at a subsidiary’s oil refinery in Kanagawa Prefecture for about two months from early April to reduce crude oil run during the April to June period by 3%. (March 10, 2010)