May 20, 2020 / 5:35 AM / 5 days ago

Japan's JXTG plans $14 bln in capital expenditure over next 3 yrs

TOKYO, May 20 (Reuters) - JXTG Holdings Inc, Japan’s biggest oil refiner, said on Wednesday it plans to spend a total of 1.5 trillion yen ($14 billion) in capital expenditure for the next three years to end-March 2023 under a new mid-term business plan.

The new plan is based on an assumption that a decline in demand for petroleum products and others due to the COVID-19 pandemic will continue in the April-September half of the current fiscal year, JXTG said.

$1 = 107.7900 yen Reporting by Yuka Obayashi; Editing by Tom Hogue

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