Japan's JX Nippon Oil likely to declare FM on PX supply

14 March 2011 09:22  [Source: ICIS news]

SINGAPORE (ICIS)--JX Nippon Oil and Energy will likely declare a force majeure on paraxylene (PX) supply to all its customers at the close of business on Monday, following the shutdown of its Kawasaki and Kashima facilities, said a company source.

Contract allocations were expected to be reduced by up to 50% through March to end-April, according to a company’s key customer.

JX Nippon Oil is expected to suffer a shortfall in supply for the April delivery month due to, the company source said.

The Kashima and Kawasaki facilities with a 950,000 tonne/year capacity were shut on Friday after a massive quake and tsunami hit northeastern Japan.

By: Bohan Loh
+65 6780 4359

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