Flat LNG use lifts Japan’s oil demand for electricity

Petroleum consumption for thermal power generation by Japan’s 10 electric power companies in October soared 480% on year to 2 million kiloliters. It was the highest level since July 2008.

Petroleum burning thermal power generation mainly substituted the more shortage of nuclear power supply because liquefied natural gas (LNG) consumption remained at 3.9 million tones, up 31.7% on year.

Limited increase of LNG usage boosted petroleum consumption for power generation in October. However, slowdown of regional industrial activities led by power saving efforts cut the total petroleum demand in the month.

Crude oil throughput by Japanese refiners decreased by 6.2% on year to 3.14 million bbl/d in October.

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