Home / Knowledge / News / Textiles / Nippon Oil fights slowdown with reduced operating rates
Nippon Oil fights slowdown with reduced operating rates
28
Jan '09
As, companies wrestle with the mounting pressures of recession, Japan's top oil refiner, Nippon Oil (Kawasaki), PX plant will run at reduced operational rates and its Oita based production facility will continue to remain under shutdown. Oita, based plant has the production capacity of 4, 20,000 ton/year, and Kawasaki plant in enable with a capacity of 3, 50,000 ton/year.

Speaking to Fibre2Fashion, industry sources confirmed that due to economic slow down, demand is poor in the market. Hence the company has kept its Oita based production facility idle while Kawasaki based unit is running at lower rate to fulfill contractual needs.

Global turmoil; proving to be a 'shape shifter' initially started as a financial crisis, and later transformed into industrial crisis. Nippon Oil has lost approximately US$ 2.8 billion due to falling feedstock prices and a resulting decrease in the value of its inventory. Weak demand of petrochemical products in the domestic and Asian markets also has caused the plant to run at reduced rates.

When asked about the duration of the shutdown, sources further mentioned that the shutdown occurred in December, but the date of resuming the plant is yet to be confirmed.

Fibre2fashion News Desk - India

Must ReadView All

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Courtesy: Jabong

Apparel/Garments | On 24th May 2017

Jabong Mood Store redefines online shopping in India

Jabong, India's leading online fashion retailer, has launched the...

Textiles | On 24th May 2017

Starlinger unveils FX 8.0 circular loom for fabric making

Starlinger, a leading supplier of machinery for woven plastic...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search