14 March 2011 05:31 [Source: ICIS news]
At 12:42 hours
Shares of Cosmo Oil plunged 26.24% as a quake-induced conflagration at its 220,000 bbl/day refinery in
Mitsui Chemicals also fell 12.23%, Mitsubishi Chemical was down 11.80% and JX Holdings plummeted 16.46%.
Mitsui Chemicals’ operations at Kashima in
JX Nippon Oil & Energy, a unit of JX Holdings, halted operations at three of its refineries - a 145,000 bbl/day unit at Sendai in Miyagi prefecture, a 189,000 bbl/day crude oil refinery at Kashima in Ibaraki prefecture and a 270,000 bbl/day unit at Negishi in Kanagawa prefecture.
A massive earthquake of 9.0 magnitude on the Richter scale struck
As of Monday, confirmed deaths were at 1,597, according to BBC, citing official data from Japan Police. But in just one town in
Strong aftershocks continued to rock
An explosion occurred at
The explosions were feared to have released radioactive leaks, reminiscent of the
Residents near the site were evacuated.
“Humanitarian issues aside, preliminary estimates of the economic impact of the disaster remain perhaps surprisingly low, on the order of tens of billions of US dollars rather than hundreds of billions,” DBS Group Research said in a note on Monday.
Overall estimates, however, would depend on the resolution of the problems being experienced at
Additional reporting by Nurluqman Suratman
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