April 7, 2017 / 7:55 AM / 2 years ago

TABLE-Japan oil demand to fall 1.5 pct per year through 2021/22

    April 7 (Reuters) - Japan's oil demand, excluding fuel oil used for power generation, is projected to fall
1.5 percent per year on average over the next five fiscal years through 2021/22, led by fast-declining sales of
fuel oil, kerosene and gasoline, forecasts by the government's energy committee showed.
    Oil demand will likely fall 1 percent to 2.90 million barrels per day (168.03 million kilolitres) in the
financial year that started April 1 from the year before, the committee under the Ministry of
Economy, Trade and Industry said in its annual five-year outlook.
    The committee did not make demand projections for C-type fuel oil used for power generation amid prolonged
shutdowns at most of the nuclear plants, six years after the Fukushima Daiichi plant disaster.
    Fuel oil consumption for power generation is however expected to take a hit as oil-fired output is
generally one of the costliest options for power utilities.
    The following is the committee's projection of average oil product demand forecast per year through the
financial year 2021/22, compared with the estimates for the fiscal year ended March 31. Volumes are in 1,000
kilolitres. (1 kilolitre is equal to 6.2898 barrels.) 
    
                         Oil product  Estimate    y/y   Outlook    y/y   Outlook    y/y        Ave.      Growth
                                Type    FY2016    Pct    FY2017    Pct    FY2021    Pct  y/y growth  over 5 yrs
                            Gasoline    52,645   -0.9    51,509   -2.2    47,051   -2.8        -2.2       -10.6
                             Naphtha    44,768   -3.2    45,846    2.4    44,401   -0.5        -0.2        -0.8
                                 Jet     5,370   -2.2     5,347   -0.4     5,338    0.2        -0.1        -0.6
                            Kerosene    16,216    1.7    15,574   -4.0    13,696   -3.1        -3.3       -15.5
                             Gas oil    33,401   -0.6    33,375   -0.1    33,361    0.2        -0.0        -0.1
                          A fuel oil    11,969    0.8    11,355   -5.1     9,642   -3.7        -4.2       -19.4
 B, C fuel oil (except power output)     5,397   -9.1     5,021   -7.0     3,967   -5.0        -6.0       -26.5
       Total (except fuel for power)   169,766   -1.4   168,027   -1.0   157,456   -1.6        -1.5        -7.3
    C fuel oil used for power output     7,170  -13.6                                                          
                   Total oil product   176,936   -2.0                                                          
 
 (Reporting by Osamu Tsukimori; Editing by Biju Dwarakanath)
  
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