Idemitsu to cut thermal coal output with no plan to invest in new mines
Japanese oil refiner Idemitsu Kosan Co 5019.T plans to reduce its thermal coal output to reflect a global decarbonisation push, with no plans to invest in new mines, its executive vice president, Susumu Nibuya, said on Tuesday.
Idemitsu will continue the development of natural gas assets in Vietnam and other Asian countries to meet growing demand for the fuel, President Shunichi Kito told a news conference on its earnings and revised mid-term business plan.
Source: Reuters (Reporting by Yuka Obayashi, editing by Louise Heavens)
2021-05-11