TOKYO : Cosmo Energy Holdings Co Ltd plans to keep the current refining capacity at least until 2030 despite an expected fall in gasoline demand in Japan due to aging population and higher sales of electric vehicles, its new president said on Thursday.Japan's third-biggest refiner has three refineries in
TOKYO : Cosmo Energy Holdings Co Ltd plans to keep the current refining capacity at least until 2030 despite an expected fall in gasoline demand in Japan due to aging population and higher sales of electric vehicles, its new president said on Thursday.
"We plan to maintain the current refining structure for the next 10 years," Shigeru Yamada, group CEO, told reporters. Japan's demand for petroleum products are expected to fall about 2.5 per cent a year, according to the industry ministry. Under the new three-year business plan unveiled in March, Cosmo plans to make an investment of 420 billion yen in the next three years, with 30 per cent to be allocated in green power and energy such as sustainable aviation fuel .
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