Japanese refiners are scrambling to expand their deep conversion capacity to accommodate growing demand for gasoline, kerosine, and gas oil. Several cash rich Japanese refiners have earmarked outlays approaching $2 billion for fluid catalytic cracking units and related equipment to desulfurize and directly crack residual fuel oil from primary distillation units, OPEC News Agency (Opecna) reported. Japanese demand for resid has been declining lately. Meanwhile, Mitsubishi Oil Co. Ltd. plans to take over and revamp a troubled refinery owned by a unit of Fuji Kosan Co. Ltd. Mitsubishi earlier this month was to register a new company for ...

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