Japan Energy plans $1 billion coker

Japan Energy Group plans to spend ¥110-120 billion (US$1.06-1.15 billion) on a new delayed coker at its 270,000 barrel per day (bpd) Kashima refinery in eastern Japan by 2011 to cut crude costs, Mitsunori Takahagi, president of parent-company Nippon Mining Holdings, said. “We are undertaking studies to install a new delayed coker at the Kashima refinery with the aim of starting operations in 2011,” Takahagi said at a press conference in Tokyo. Japan Energy aims to cut crude oil processing costs amid widening price spreads between light and heavy crudes, Takahagi said. “Through the installment of the new coker, we would be able to process heavier crudes and reduce our crude oil procurement costs,” Takahagi told reporters. (May 9, 2008)