Sumitomo Chemical Agrees with Idemitsu and Mitsui to Increase Benzene Production

10-07-2004: Sumitomo Chemical Co., Ltd., Idemitsu Kosan Co., Ltd. and Mitsui Chemicals Inc. announced an agreement to cooperate in resuming the operation of Idemitsu's Light Naphtha Reformer (LNR) unit at the company's Chiba refinery and off-taking the benzene produced by the unit.

The project matches the desire of both Sumitomo and Mitsui to establish a stable supply of feedstock for the expansion of their benzene derivatives businesses, with Idemitsu's desire to increase the profitability through the efficient use of its existing facilities and to further integrate its oil refining and petrochemical operations. The agreement of the three companies, all of which have adjoining plants in the Chiba area, will lead to a higher level of competitiveness for the area's petrochemical complex.