Japan's use of fuel oil to generate power is set to fall over the next fiscal year to levels not seen since before the Fukushima disaster, if enough of the country's nuclear reactors are allowed back online.
Demand for low sulphur fuel oil has already dropped as Asia's largest listed power utility Tokyo Electric Power Co (Tepco) leads a switch to coal and gas to cut costs.
Further falls will push product back into an over-supplied Asia-Pacific market, hitting prices and processing margins already expected to be weak due to refinery expansions in China and the Middle East.
Japan's low sulphur fuel oil imports rose to a 39-year high of 150,600 barrels per day (bpd) in the financial year that ended last March 31, but between April and November 2013 fell about a third from the same period the previous year, according to trade ministry data.
Japan is the largest importer of fuel oil for power use in Asia, taking more than twice the volumes of the next biggest user, South Korea, according to traders.
A key piece of debris was successfully removed Sunday from a damaged reactor at the Fukushima Daiichi nuclear power plant, clearing the way for the removal of over 500 spent fuel rods sitting inside the unit's cooling pool more than four years after the 2011 crisis. (Kyodo)
With this year marking the 70th anniversary of the end of World War II, the Imperial Household Agency made public on Saturday Emperor Showa's voice from the master recording used to announce the end of the war. (The Japan News)
A fire occurred on an MOL Ferry Co. ferry about 55 kilometers off Tomakomai, Hokkaido, northern Japan, on Friday evening, leaving a crew member missing, according to the Japan Coast Guard and the operator. (Jiji Press)
Jimmy Page, the guitarist of the legendary British rock band Led Zeppelin, on Thursday visited Hiroshima and laid flowers for the victims of the U.S. atomic bombing of the city 70 years ago. (Japan Times)
The average life expectancy for Japanese women rose to a record high of 86.83 years in 2014 from 86.61 years the previous year, marking the world's longest for the third straight year, government data showed Thursday. (Jiji Press)
Kanagawa Prefectural Police on Thursday said suffocation was the cause of death of a woman whose corpse was discovered floating off the coast of Miura City, reports TBS News (July 30). (Tokyo Reporter)
Last weekend, it was once again time for Japan's model and garage kit enthusiasts to gather for the summer iteration of Wonder Festival, held at the Makuhari Messe convention center in Chiba Prefecture. (Japan Today)
Japan's Empress Michiko is set to receive checkups on her coronary artery using computed tomography on Aug. 9 at the University of Tokyo Hospital due to suspected myocardial ischemia, the Imperial Household Agency said Wednesday. (Jiji Press)