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| Crude Processing Plan for the 3rd Quarter 2003 |
| 26/06/2003 |
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Showa Shell Sekiyu Group has set its crude processing volume for the 3rd quarter, 2003 at 6,350,000KL, 99.8% of the same period last year.
In the begining the processing volume was set at 101.3% (6,440,000KL) of the same period of last year expecting for the C Fuel Oil Demand increase due to the nuclear power plant shutdown, but the Company reviewed the plan in view of the sluggish oil product demand on the whole.
During the 2nd quarter the processing volume maintained a high level of 119.7% year on year as a result of the increased demand for power generation and the effect of the scheduled shutdown for maintenance conducted last year. For the 3rd quarter, however, we have decided to reduce the manufacturing level considering that the sluggish oil demand will continue for the time being. If compared with the processing volume of the same period in 2001 ( 6,860,000KL), the processing level for this 3rd quarter amounts to 92.6%.
As a result of the reduced processing, we expect the whiter oil production to run short by around 150,000KL during the third quarter, but we plan to make up for the shortage by procurement from the domestic market. Further in order to meet the continued demand increase for C Fuel Oil for power generation, we will secure enough volume of C Fuel Oil by production shift through purchase of middle distillates from the market.
We are going to keep stable supply by flexible crude processing, domestic purchase and product import in view of the domestic supply/ demand trend.
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