Idemitsu Kosan Co., Ltd. (Head Office: Chiyoda-ku, Tokyo, President: Kazuhisa Nakano) announces that it has decided that the total crude oil refining of the four refineries scheduled for 1Q of 2010 will be 7.9 million KL, 98% against the same period of the previous year.
The volume of crude oil refining above is a 0.1 million KL reduction from a year earlier.
Domestic demand for oil products has been weak due to factors such as a stagnant economy and a warmer-than-normal winter.
The Company will continue to cut back on crude oil refining production to respond to sluggish domestic demand. The refining volume will be 92% against the same period two years earlier.
In addition, the Company will either increase or reduce the volume of crude oil refining according to changes in domestic demand caused by temperature fluctuations or other factors.
For reference
Crude Oil Refining:Production/Results(Unit: million KL, %)
| Previous year (1) |
Plan(FY2009) (2) |
Results(projected) (3) |
Year-on-year comparison | ||
|---|---|---|---|---|---|
| Plan(2)÷(1) | Results(3)÷(1) | ||||
| April to June | 7.9 | 6.6 | 6.6 | 83% | 83% |
| July to September | 8.4 | 7.0 | 7.0 | 83% | 83% |
| October to December | 7.4 | 7.0 | 6.9 | 95% | 94% |
| January to March | 8.0 | 7.9 | - | 98% | - |
* Figures are rounded.
Crude oil refining scheduled for January 2010 is 2.8 million KL, 100% against the same month last year and 92% against the same month two years earlier.
For inquiries regarding this press release, please contact
Mr. Sato
PR Section IR&PR Office
Idemitsu Kosan, Co., Ltd.
Tel: +81-3-3213-3115
