Japan will be third largest contributor to crude oil refining capacity in Asia from 2018 to 2023, according to GlobalData
Published by Laura Dean,
Japan was the third largest contributor to crude oil refining capacity in Asia with 3.519 million bpd in 2018. The country is expected to retain its position despite a decrease in its share from 10% to 8% of Asia’s crude oil refining capacity in 2023, according to GlobalData, a leading data and analytics company.
The company’s report: 'Japan Crude Oil Refinery Outlook to 2023' reveals that the total refining capacity of Japan has decreased from 4.385 million bpd in 2013 to 3.519 million bpd in 2018. The country has no planned crude oil refinery additions during the outlook period 2018 – 2023.
Soorya Tejomoortula, Oil & Gas Analyst at GlobalData, comments: “There are no refinery capacity additions in Japan due to several reasons such as the country’s policy to reduce dependence on oil, declining use of transportation fuels, and ongoing program to replace oil with LNG.”
GlobalData also indicates that the country has no upcoming refineries during the outlook period, therefore Japan’s total crude distillation unit capacity, condensate splitter capacity, coking capacity, catalytic cracking capacity and hydrocracking capacity, are all expected to remain same at 3.484 million bpd, 3.5 million bd, 108 million bpd, 1.018 million bpd and 1.7 million bpd, respectively.
Japan has a total of 23 active crude oil refineries, of which Negishi, Yokkaichi II and Kawasaki will be the major refineries with total refining capacities of 2.7 million bpd, 2.55 million bpd and 2.35 million bpd, respectively, in 2023.
Read the article online at: https://www.hydrocarbonengineering.com/refining/21012019/japan-will-be-third-largest-contributor-to-crude-oil-refining-capacity-in-asia-from-2018-to-2023-according-to-globaldata/
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