Japan’s JX Holding to cut refining capacity

Japan’s JX Holding will continue with its plan to cut its refining capacity in fiscal 2012-2013, which runs from April to March. After the earthquake of 2011, the company decided to cut its refining capacity by 200,000 barrels per day by the end of fiscal 2013-2014, following a decline in Japan’s domestic oil demand. (January 5, 2012)