Breaking News

Tweet TWEET

Tokyo Electric’s Crude Oil Use More Than Quadrupled in August

Tokyo Electric Power Co. (9501)’s crude oil consumption more than quadrupled in August as the company increasingly relies on thermal power generation after the Fukushima nuclear disaster.

The utility, known as Tepco, used 402,000 kiloliters of crude last month, the highest since February, up from 95,000 kiloliters a year earlier, according to data released on its website. Its’ liquefied natural gas consumption was little changed.

The country has only two operating reactors, owned by Kansai Electric Power Co., after meltdowns and radiation leaks at Tepco’s Fukushima Dai-Ichi nuclear station in March 2011 prompted shutdowns of atomic plants. Japan may be forced to spend 22.6 trillion yen ($289 billion) on fossil fuels, such as natural gas, crude oil and coal, causing a trade deficit for the second straight year in the period ending March 2013, the Institute of Energy Economics said in a July 2 report.

The following table shows Tepco’s consumption and purchases of fuel oil, crude, LNG and coal for August. For fuel oil and crude, the volume is in kiloliters while LNG and coal are in metric tons.

------------------------------------------------------------
                   August 2012               Change on year
CONSUMPTION
Fuel oil           772,000                     60.8%
Crude oil          402,000                     323.2%
LNG                2,080,000                   0%
Coal               390,000                     23%

PURCHASE
Fuel oil           677,000                     51.5%
Crude oil          322,000                     329.3%
LNG                2,251,000                   -2.3%
Coal               242,000                     -46.2%
------------------------------------------------------------

Source: Tokyo Electric Power Co.

To contact the reporter on this story: Tsuyoshi Inajima in Tokyo at tinajima@bloomberg.net

To contact the editor responsible for this story: Jason Rogers at jrogers73@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.