JX Nippon Oil to reduce crude oil refining volume

JX Nippon Oil & Energy Corp. said it will reduce crude oil refining volume by 11% to 4.25 million kiloliters in June.  This move is in response to an anticipated decline in gasoline demand this summer, as the discount for toll roads expires in June.  The company’s refineries in western Japan will decrease capacity utilization rate, with refining volume to decline by 19% to 13.37 million kiloliters during the April – June quarter, the lowest monthly refining volume since fiscal 2008. (June 1, 2011)