Idemitsu sees Q4 total crude refining down 3 pct y/y
TOKYO, Sept 19
TOKYO, Sept 19 (Reuters) - Idemitsu Kosan Co Ltd, Japan's third-largest refiner, plans to refine 3 percent less crude in the October-December quarter than a year ago as it maintains a cautious view on domestic demand, except for that of fuel oil by power utilities.
Of its total refining plan of 6.9 million kilolitres, or 472,000 barrels per day (bpd), for the quarter, Idemitsu plans to use about 400,000 kl to produce fuel oil for exports. It also plans to import 300,000 kl of C-fuel oil for power utilities, a company spokesman said.
In the July-September quarter, it said it refined an estimated 6.2 million kl to meet domestic demand, up 200,000 kl from originally planned, thanks to hotter summer than expected and higher need for C-fuel oil.
All but two of Japan's nuclear reactors are shut for safety checks in the wake of last year's Fukushima disaster. The newly established nuclear regulator is expected to take several months to set new conditions for reactors to restart, which is likely to keep oil demand from power utilities high.
Idemitsu also said it would shut the 120,000 bpd crude distillation unit at its Tokuyama refinery in western Japan for two months from late September for planned maintenance.
The company has four refineries in Japan, with total crude refining capacity of 640,000 bpd.
Both naphtha crackers at its Tokuyama plant have been shut for scheduled maintenance since Sept. 10, a company spokesman said.
The crackers have combined nominal capacity to produce 689,000 tonnes per year of ethylene if they operate for one year without maintenance shutdowns.
Following is a table of Idemitsu's crude refining plan for October-December and estimate for July-September with percentage changes from a year earlier, with a breakdown of refining for domestic and export markets. Units in bpd are calculated by Reuters.
The company declined to give details of its refining plan for each month during the second quarter.
Month Oct-Dec Yr/Yr Jul-Sept Yr/Yr
Domestic 6.5 mln kl -4 pct 6.2 mln kl +2 pct
Export 400,000 kl +15 pct 400,000 kl -56 pct
Total 6.9 mln kl -3 pct 6.6 mln kl -4 pct
(Reporting by Risa Maeda; Editing by Daniel Magnowski)
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