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Dr. Fly
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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Flash: Japan’s Refining Capacity all but Crippled

Dr. Fly Fri Mar 11, 2011 5:00pm EST 1 Comment

Six of Japan’s refineries, representing 31% of output, have ceased operations, due to the quake. Fires have been raging in the Cosmo Oil and JX Nippon Oil & Energy refineries. Japan has a total of 28 refineries and is the third largest consumer of crude in the world.

As of now, the following refineries have been shut down:

JX Nippon Oil & Energy
Sendai
Negishi
Kashima Oil
Kawasaki
Chiba

As a result, refinery stocks in the U.S. surged ahead today, led by gains in CVI, ALJ, TSO, WNR and FTO

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One comment

  1. WTF
    WTF
    March 11, 2011 at 5:29 pm

    Does anyone know about damage to their tanker fleet (if any)? I’d guess with damaged ports that could also be a bottleneck.

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