March 11, 2011 at 4:24 am #2351
Major oil refinery on fire northeast of Tokyo
By Nick Godt 3/11/11
MUMBAI (MarketWAtch)– A major oil refinery owned by Cosmo Oil Co. was on fire in Chiba, northeast of Tokyo, after a 8.9 magnitude earthquake off the coast of Japan triggered a tsunami and sent powerful tremors throughout the country, according to local media reports.
JX Nippon Oil & Energy Corp., another refiner, halted operations at its refineries in three cities, including in Sendai, where the airport was flooded after the tsunami hit.
Another fire was reported at JFE Holdings Inc’s steel plant in Chiba.
March 11, 2011 at 5:01 am #5210
Additional followup – death toll so far at 5 and growing.
Japan quake tears through commodity, energy sectors
Friday 3/11/11 (Reuters) – Here is a chronology of key events on Friday after an earthquake of magnitude 8.9 hit Tokyo, the Japanese capital, and its surroundings:
Huge tsunami slams Japan after quake, at least 5 dead
** Japanese government to declare nuclear power emergency situation, says news agency Jiji, citing defence ministry.
** Tonengeneral says shut main units at Kawasaki refinery near Tokyo after quake.
** Tokyo Commodity Exchange says no damage to rubber warehouses from quake.
** Tsunami is one of biggest on record for Japan -Kyodo quoting expert
** All Japanese ports close, with discharge operations halted, after the magnitude 8.9 quake and tsunami, shippers say.
** Mitsubishi Material says Onahama copper smelter halted due to electricity outage from quake.
** Asian jet fuel bids seen at lower level as closure of Japanese airports may dampen demand, traders say.
** Asian fuel oil April/May and May/June timespreads traded up around $1 from the previous session, brokers say.
** Strong aftershock hits northern Japan, says broadcaster NHK.
** Cosmo Oil says Chiba refinery fire from storage tank, still working to extinguish it.
** Northeast Japan’s Sendai airport flooded, television says.
** Mitsubishi Chemical says halts operations of 2 naphtha crackers at Kashima after power outage.
** Japanese Prime Minister Naoto Kan says some Japanese nuclear power plants shut down but no report of nuclear leaks.
** Japan extends warning for big tsunami to more areas on Pacific coast, news agency Kyodo says.
** Tsunami of 10 metres hits port in Sendai, northern Japan, Kyodo says.
** Major fire breaks out at Cosmo Oil’s Chiba refinery near Tokyo, television reports.
** Tokyo Electric Power says power cut to 4 million homes.
** Power outage hits 4 million homes in Tokyo, surrounding area, Kyodo says.
** Tokyo gold futures pare losses after quake rocks Japan, TOCOM rubber largely unmoved.
** Tokyo Commodity Exchange says trading normally after quake.
** Japan’s Shinkansen bullet trains to northern parts of the country halted, Kyodo says.
** Earthquake shakes buildings in Tokyo, witnesses say.
March 11, 2011 at 6:28 am #5209
A Tsuanmi will hit Hawaii ~7am this morning & maybe even California or Mexico & most other 20 countries will have been hit by time you see this.
An 8.9 Quake is on par with 300 megaton bomb going off & since quakes usually occur in groupings their will be afterquakes & more Tsunami. Below is list of hits already to Japan Energy & financial sectors that are likely only beginning.
The oil fears from Libia already have oil at over-speculated prices & energy too high, Japan can only add bad upward pressure on all energy markets which also are behind some hits to stock market now. Japan have taken all nukes offline and ports are closed to imports, & airports are closed due Tsunami flooding.
Since the stock market was down 228 points Thursday – this might give you heads up on an additional big drop today due to all impact from Japan’s Great Quake. Maybe even open down another 200 points since the financial damage will already be in Asian market by US opening bell.
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