On Friday, Japan’s biggest oil refiner Eneos Holdings Inc. said that its joint venture (JV) with PetroChina would shift to Eneos’ Chiba refinery in December following the closing of the JV’s Osaka refinery in October.
The JV will shut the 115,000 bpd Osaka refinery next month due to the slumping fuel demand in Japan and it will take over the 129,000 bpd Chiba refinery from Eneos. The Chiba refinery will process crude supplied by PetroChina and export refined products that will be marketed by PetroChina.
The plant in Osaka will be converted to an asphalt-fueled electric power station after stopping refining operations.
