JX Holdings mulls closure of Yokohama oil refinery

December 1, 2010

JX Holdings, the largest oil refiner in Japan, is considering closing its Negishi Refinery in Isogo Ward, Yokohama, due to weak domestic demand for oil products, according to the Yomiuri news agency. The company has stated that the capacity of the Yokohama refinery will fall to 270,000 barrels per day (bpd) after the imminent scrapping of plans to construct a second 70,000 bpd crude oil distillation unit at the facility. The move has been taken as part of a company-wide 400,000 bpd reduction in crude oil capacity being planned by the end of October. Sources with the company cited by the Yomiuri report said that the closure of the Yokohama refinery would be initiated in stages up to the year 2020 to 2021.  The Negishi oil refinery started operations in 1964 and helps to meet oil product demand in the Tokyo metropolitan area. (October 7, 2010)

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