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Announces Nippon Mitsubishi Oil Corp.'s plan to close down its Kawasaki refinery in eastern Japan at the end of September 1999. Reason behind the decision; Reaction of domestic spot waterborne products market players to the April 7 announcement; Expected action from Nippon to cover shortfall from the refinery closure.

Discusses the high potential of Chuba region, central Japan to grow as a free and open domestic physical oil product market. Burgeoning and active, spot onland market for oil products at Nagoya port's number nine site; Sources of the products; Problems with retroactive pricing.

Reports on British Petroleum PLC and Exxon Corp.'s expansion plans in Japan. Deregulation of Japan's oil industry; BP's opening of its brandname retail service station at a shopping mall in Isesaki; Exxon's plans to take 50.1% majority ownership of its Japanese affiliate, General Sekiyu KK; Location of pilot outlets to be opened by BP's Japanese unit.

Reports that Japan's Maritime Safety Agency has completed its clean-up operations from the oil spill into Tokyo Bay. Total volume collected from the spill; Opening of all shipping lanes after the cleanup; Number of ships and boats participating in the cleanup; Implications of the quick cleanup operation to the government's crisis management system.

Reports that Japanese refiners has reduced their crude throughput. Factors attributed to the reductions; Information on oil companies that are planning to cut crude throughput; Why refiners do not want to lower the spot prices.

Reports that Japan's Ministry of International Trade and Industry (MITI) is aiming to devise a restructuring scheme by September 1998 for the country's state oil company, Japan National Oil Corporation (JNOC). Reason behind the plan to restructure JNOC; Efforts by the MITI to evaluate each of the JNOC exploration and production projects; Effect of the restructuring on Japan's energy policy.

Reports on the planned cooperation between the Japan-based oil trade group Petroleum Association of Japan and the Japan Automobile Manufacturers Association to reduce lower sulfur content in diesel. Changes in the country's oil industry and air pollution rules.

Reports on Japan's Ministry of International Trade and Industry's stepping up of its review of the nation's policy on overseas oil developments by Japanese companies. Reaction to the Arabian Oil Co.'s non-renewal of its concession with Saudi Arabia for oil production in the Khafhi oil field in the Persian Gulf Neutral Zone; Importance of fostering competitive Japanese oil development firms.

Reports that Arabian Oil Co. (AOC), Japan's largest oil producer, failed to renew its oil concession in the Khafji oil field in the Persian Gulf Neutral Zone between Saudi Arabia and Kuwait. Continued crude production of AOC at the field under a separate agreement with Kuwait; Negotiations for the renewal of its concessions.

Highlights the efforts of Japan's Arabian Oil Co. to achieve a breakthrough in the stalled talks with Saudi Arabia for renewal of its drilling concession for the Khafji oil field. Expiration of the concession on February 27, 2000; Aspects of the proposal offered to Saudi Arabia.

Cites the merger talks between Japanese refiners Tonen Corp. and General Sekiyu KK, two subsidiaries of Exxon Mobil. Firms' lack of imminent plans to announce the merger scheme; Final stage of reorganization efforts by Exxon Mobil's Japanese affiliates.

Reports that Japan's Defense Agency is planning to restart as an exception jet fuel procurement from the 11 local oil companies it earlier has excluded from its oil buy tenders for a nine-month period starting October 1999. Reasons cited for the move; Reasons why the agency excluded the 11 local oil companies; Sources jet fuel supplies the agency procured in the fourth quarter of 1999.

Details the plan of Esso Sekiyu KK of Japan to set up two companies in June 2000 to handle oil products marketing and administrative functions for ExxonMobil's four Japanese subsidiaries. ExxonMobil Marketing Service and ExxonMobil Business Services as tentative names given to the wholly owned units; Stock ownership of ExxonMobil in Esso Sekiyu and Mobil Sekiyu.

Reports that Japan and Saudi Arabia has yet to reach an agreement on the renewal of oil firm Arabian Oil Co.'s concession in the Khafji oil field in the Neutral Zone in the Persian Gulf. Oil from the Khafji field that is exported to Japan; Visit of Japan's Minister of International Trade & Industry Takashi Fukaya in Riyadh to renew the deal.

Focuses on the move by Japanese refiners and wholesalers Showa Shell Sekiyu KK and Japan Energy Corp. to combine their operations into four groups. Option to study how to cut surplus refining capacity; Plan to create company for joint operations in domestic oil production.

Cites a survey by Lehman Brothers forecasting an increase in exploration and prospecting spending in 2000. Spending cuts by several oil firms; Rise in spending within North America due to the pursuit of natural gas reserves.

Focuses on Japanese refiner Idemitsu Kosan Co. Ltd.'s decision to reduce its total refining capacity by ten percent as its contribution to promoting efficiency in the downstream sector. Impact of the reduction on the total crude topping capacity; Reductions per refinery stations; Reasons cited for the excess refining capacity of the oil industry in Japan.

Looks at the decision of Japan's Nippon Mitsubishi Oil, Cosmo Oil and Showa Shell Sekiyu that they are not accepting the recommendations of the Fair Trade Commission (FTC) on a bid-rigging case in the closed oil products buy tenders of the Defense Agency. Identification of the other firms affected by the recommendation; Decision of the FTC not to accept the recommendations of the companies.

Reports that the Japanese Fair Trade Commission (FTC) has issued guidelines for oil companies planning to bid for the Japanese Defense Agency's planned closed fuel buy tenders. Details of the guidelines designed to prevent rigging of tenders.

Reports that Japan National Oil Corp. (JNOC) will provide a certain amount in investment and loans to bail out a Japanese offshore oil exploration and development project in Azerbaijan. Acquisition plan of JNOC in Japan Azerbaijan Oil Co.; Percentage equity of JNOC in Idemitsu; Oil and gas projects terminated by JNOC.

Reports on the Export-Import Bank of Japan's receipt of emergency loan requests from Japan's oil refiners and wholesalers to cover a portion of their crude import payments. Significance of Ex-Im Bank's decision to offer the short-term loans to oil refiners and wholesalers; Interest rate and term of the loan; Source of the emergency loan; Factors that make short-term loans attractive to borrowers.

Reports that Mobil Sekiyu KK will introduce a weekly wholesale pricing formula for high octane and regular gasoline and gasoil. Enhancement of pricing transparency in Japan's competitive retail market.

Reports on Japanese refiners' concern that may not be able meet Saudi Arabia's request that they take 50 percent more Saudi crude for fear of damaging their relationships with other crude producers by reducing their market shares. Consideration of reducing spot purchases to increase Saudi crude imports temporarily.

Focuses on Nippon Oil Co.'s plan to close its Niigata refinery on the shore of the Japan Sea at the end of March 1999. Company's efforts to improve production efficiency; Nippon's ability to cover the shortfall in products supplies from the shutdown.

Reports that a consortium led by Japan National Oil Corp. is hoping to reach an agreement with Azerbaijan on contract terms for joint exploration and development of oil fields in Caspian Sea. Terms of the contract; Composition of the consortium.

Reports on the decline of prices in Japan's domestic spot waterborne products market as refiners are increasing output to gain market share despite supply overhang. Refiners' efforts to boost crude throughput after refinery turnarounds; Reasons for refiners' high operating rates.

Reports that Japan's Ministry of International Trade and Industry (MITI) recommended liquidation of 27 of Japan National Oil Corporation's (JNOC) unprofitable oil development firms. Financial status of JNOC; Information on the committee to be set up by the MITI; Details on oil ventures to be liquidated.

Reports on the decision of Showa Shell Sekiyu KK to close its Niagata refinery on the shores of the Japan Sea tentatively in March 1999. Decision on the exact timing of the closure; Units which will be shut down by the company; Plan of Showa Shell to transfer its employees at the refinery.

Reveals that a committee of petroleum council under the Ministry of International Trade and Industry has agreed that Japanese government must abolish its approval system for entry into the country's oil refining sector. Details on the approval system; Other points asked from the government.

Reports on the condition of the petroleum industry in Japan. Factors that are influencing the condition of the industry; Petroleum companies that are operating at a loss; Ratings given on domestic bonds issued by some companies; Reason for the negative condition of the industry.

Reports on the impact of the introduction of self-service filling stations in Japan. Expected decrease in gasoline prices; Plans by companies Idemitsu Kosan Co., Cosmo Oil Co. and Energy Corp.; Expectations by the Ministry of International Trade and Industry.

Reports that Marubeni Corp. has revised down its financial forecast for the fiscal year ending March 1, 1998 from a net income of Yen 16 billion to a net loss of Yen 32 billion. Appraisal loss of its stock holdings; Japanese commodity traders and producers' optimism on the launch of the country's Big Bang financial deregulation; Other measures in the financial reform package.