TOKYO (AFX-ASIA) Ð Shares of Japan’s four largest refiners have been trading higher due to the yen’s surge against the dollar, which boosts their earnings by lowering the cost of imported oil priced in dollars but paid for in yen. Nippon Oil, Cosmo Oil, Showa Shell Sekiyu and Tonen General Sekiyu have all gained in…
JAPAN: Refiners sharply higher as yen surges against dollar
Posted on October 1, 2003 by EnergyAsia