16 May 2011 12:16 [Source: ICIS news]
TOKYO (ICIS)--Japanese refiner Idemitsu Kosan resumed exporting petroleum products earlier this month and plans to cut crude oil refining volume by 13% in April-June from the same period last year, the company said on Monday.
Some of Idemitsu’s oil tank facilities were damaged by the massive earthquake which hit northeast ?xml:namespace>
“As a result, we were able to restore our supply system almost to the level before the earthquake by the end of March, thus we have decided to restart exports [of petroleum products],” Idemitsu added.
From April to June, the company planned to refine a total of 5.6m kilolitres of crude oil at its four refineries, a decrease of 900,000 kilolitres from the year-before period, Idemitsu said.
In April alone, the company reduced refining volume by 2% year on year, while it aimed to reduce May refining volume by 34%, Idemitsu said.
It plans to cut the volume in June by 2% from the same time a year before, the company added.
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