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Nippon Oil to Cut March Oil Processing 22% on Weak Fuel Demand

By Megumi Yamanaka

Feb. 25 (Bloomberg) -- Nippon Oil Corp. will slash crude oil processing by 22 percent in March from a year earlier as a warmer-than-average winter reduces heating-oil demand.

The refiner will also trim output in February by 16 percent from a year earlier compared with a planned cut of 12 percent, a company spokeswoman said by phone from Tokyo. Nippon Oil will process 3.99 million kiloliters, or about 25.1 million barrels, next month, it said.

To contact the reporter on this story: Megumi Yamanaka in Tokyo at myamanaka@bloomberg.net.

Last Updated: February 24, 2009 19:56 EST

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