Japan 's demand for oil products will fall by 16% in the next five fiscal years to 161 million kiloliters, or by an annual average of 3.5%, the Ministry of Economy, Trade and Industry projects said.

The country's fuel oil consumption in the fiscal year ended March 31 was down 4.6% to 192 million kiloliters, METI reported Thursday.

Demand for naphtha and jet fuel is expected to fall by less than 1% per year over the five-year period, while demand for gasoline, kerosene, gasoil and heavy distillates is expected to decrease more steeply, METI said in an annual report.

Japan 's oil demand has been falling on wide adoption of energy-efficient technologies and shifts among manufacturers away from oil products to cleaner-burning natural gas.

At the end of every fiscal year, METI revises its five-year demand outlook for oil products and adjusts stock-level targets for national oil reserves accordingly.
Ακολουθήστε το energia.gr στο Google News!Παρακολουθήστε τις εξελίξεις με την υπογραφη εγκυρότητας του energia.gr

Διαβάστε ακόμα