U.S. Industry Scoreboard 2/24 [69901 bytes]
Japanese downstream restructuring continues to manifest itself in major ways.
Amid a plan by two companies to merge their refining operations into an oil refining giant, MITI plans to abolish restrictions on petroleum product exports by yearend.
Following liberalization of imports last April, Japan now plans to no longer regulate oil products trading.
The plan will be discussed at the Petroleum Council, along with other ideas for deregulating trading.
Liberalization will facilitate sale of excess gas oil and gasoline, helping refiners improve capacity utilization and cut costs.
Under current rules, exports of o...