Here are couple articles around Japan’s Refining companies plans to meet the new Japanese Processing Regulations designed to modernize & increase resid processing. cut capacity or close to remove surplus capacity from the market.
Could go either way as either Good news or bad news for Japan coking projects?
Several have submitted their proposals as required, others have announced mothballing plants or cutting capacity and few like AOC have announced scrapping capacity.
Japan and Europe are at lead on global refining consolidation of small, regional, simple/less complex refineries to make room for all the large worldscale new capacity that has been installed in last upgrade cycle – most designed to export products at time when demand has collapsed and may not return……especially on gasoline based production that has now shifted back towards diesel economies that often limit crude processing for exporters.
Regards