ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

Japan's Idemitsu to slash oil refining capacity as cars go electric

Plan to shut down Yamaguchi refinery to be announced today, Nikkei learns

Idemitsu's Yamaguchi refinery has a crude oil processing capacity of 120,000 barrels per day, accounting for about 13% of the group's total capacity.

TOKYO -- Idemitsu Kosan, Japan's second-largest oil wholesaler, has decided to shut down its refinery in Yamaguchi Prefecture by the end of March 2024, as the rise of more fuel-efficient vehicles cuts demand for gasoline, Nikkei has learned.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more