Forecast: Oil Refinery Capacities in Japan

Based on the provided data, Japan’s oil refinery capacity is projected to steadily decline over the coming years, moving from 3.23 million barrels per day (MBD) in 2024 to 3.18 MBD by 2028. In 2023, the actual value of refinery capacity stood at 3.25 MBD. The year-on-year variation indicates a decrease by approximately 0.6% annually. The compound annual growth rate (CAGR) over the forecasted period, from 2024 to 2028, is approximately -0.4%.

Future trends to watch for include:

- Shifts in energy consumption patterns and the impact of renewable energy adoption on refinery capacities.

- Potential regulatory changes influencing the oil and gas sector in Japan.

- Economic factors, such as changes in global oil prices and demand, that could affect refinery operations and capacities.

- Technological advancements and improvements in energy efficiency measures within refineries.

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