Japan’s Idemitsu to idle 3 refineries

Japan’s Idemitsu Kosan Co. announced plans to halt operations at three domestic refineries for about a month in Fiscal 2010 to curb crude oil processing to 28.3 million kiloliters, down 0.7% from the estimated volume for Fiscal 2009. The plans call for a refinery in the Hokkaido city of Tomakomai to be idled from mid-June and for two other facilities in Shunan, Yamaguchi Prefecture, and Chita, Aichi Prefecture, to be idled in September or later. The measures are expected to reduce fixed costs by 900 million yen (US$9.99 million). The combined refinery capacity at the three sites totals 420,000 barrels a day. Depending on demand, the company may mothball the plants for an extended period.  (March 11, 2010)