Japan's Major Refiners Make Way for Refining Capacity Reduction Plan

KOFU, JAPAN--April 1, 2013--Researched by Industrial Info Resources (Sugar Land, Texas)--The refining capacity reduction plan for all five major oil refiners in Japan is nearly set. The plan is expected to help in resolving the nation's oversupply of gasoline. Reasons for the reduction include the promotion of eco-friendly cars, such as hybrid vehicles (HV) and electrical vehicles (EV); the major energy shifts from gasoline to other energy resources; and the shrinking demand in Japan, which will continue for some time.