Japan's JX cuts March crude refining plan by 8 pct

TOKYO, March 11 Mon Mar 11, 2013 12:28am EDT

Related Topics

TOKYO, March 11 (Reuters) - Japan's JX Nippon Oil & Energy Corp said on Monday it has cut its crude oil refining plan for March by 8.3 percent from its original plan to 5.66 million kilolitres (1.15 million barrels per day) due to high inventories amid slow domestic demand.

The volume marks a 7 percent decline from a year earlier, and the move reflected slow kerosene sales in February due to milder-than-normal temperatures, a company spokeswoman said. Inventories of other oil products also remained high, she added.

The country's top oil refiner also raised its oil product export plans by 30,000 kl from its initial plan to 680,000 kl (4.3 million barrels), she added.

FILED UNDER:
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article