Nippon Oil to shut Toyama refinery ahead of schedule

13 January 2009 12:04  [Source: ICIS news]

TOKYO (ICIS news)--Japan’s Nippon Oil Corp will permanently shut down its 60,000 bbl/day refinery in Toyama prefecture at the end of January, two months ahead of schedule, the Japanese refiner said on Tuesday.

The company had decided to move the schedule forward due to the more-than-expected decrease in domestic oil demand, it said in a statement.

Nippon Oil had earlier announced that the Toyama refinery would be shut at the end of March 2009 due to a decline in demand.

The 40-year-old Toyama refinery is run by Nippon Oil's subsidiary Nihonkai Oil.  

Nippon said the facilities would be converted into an oil terminal that will handle 1.5m kilolitres/year of crude oil, gasoline, kerosene, naphtha, light diesel oil and heavy fuel oil C, starting from April 2009. 

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By: Tomomi Yokomura
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