Japan's Cosmo Oil to shut Yokkaichi base oil plant in end-Sept

21 September 2011 12:23  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s Cosmo Oil will shut its 200,000 kilolitre/year Group I base oil plant next week for maintenance, a company source said on Wednesday.

The refiner expects to complete the turnaround at the Yokkaichi facility in mid-November, he said.

Japan’s base oil spot supply will likely remain weak in the fourth quarter as a result of a spate of refinery turnarounds, market participants said.

“The domestic and Chinese demand is not good but the Japanese refiners do not have much inventory pressure because of their shutdown plans,” a northeast Asian trader said.

JX Nippon Oil & Energy has shut its Mizushima Group I base oil facility in the first half of September for around 45 days of maintenance. Its second Group I base oil plant in Negishi will be shut in early October for the same duration.

The Negishi facility can produce around 200,000 tonnes/year of base oils, while the Mizushima facility has a capacity of around 150,000 tonnes/year.

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By: Yeow Pei Lin

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