Japan Energy to refine 11% less crude in Q1 2009

Japan Energy Corp, the nation’s sixth-biggest oil refiner, plans to cut its crude oil processing volumes for January-March by 11% from the same period a year earlier. Japan Energy, the refining unit of Nippon Mining Holdings Inc, plans to refine 5.55 million kiloliters of crude oil including condensate in the first quarter of next year, a company spokesman said. For the October-December period, Japan Energy estimated its crude refining volume at 6.21 million kiloliters (kl), including condensate, up 3% from a year earlier but down from its initial plan of 6.27 million kl. (December 27, 2008)