Japan secures crude supply through Nov; Dec uncertain – PAJ chair: report
Japan has secured sufficient crude oil supplies for its domestic market through November, but the supply situation from December remains uncertain amid escalating tensions in the Middle East, the chairman of the Petroleum Association of Japan (PAJ) said. Arrangements for crude supplies through November were in place, said Shunichi Kito, who is also the chairman ...
Japan has secured enough crude oil for its domestic market until November, but the supply situation from December onwards is uncertain due to tensions in the Middle East, according to Shunichi Kito, chairman of the Petroleum Association of Japan and Idemitsu Kosan refiner. The PAJ chairman shared this information at a press conference on September 18, as reported by the Yomiuri Shimbun.
Kito explained that supply visibility from December was limited due to the deteriorating situation in the Middle East. The intensification of oil supply concerns followed an attack on Saudi Arabia’s East-West Pipeline on September 10, which temporarily halted operations. The pipeline carries crude from Saudi Arabia to the Red Sea coast and has become crucial since Iran blocked the Strait of Hormuz.
Japan relies on oil imports from countries near the Strait of Hormuz for over 90% of its crude oil. Tensions have also escalated around the Red Sea following the takeover of the Bab el-Mandeb Strait by Houthi rebels allied with Iran. Kito mentioned that the extent of damage to the East-West Pipeline and its impact on Japan’s crude procurement were still being assessed.
He expressed hope for its swift restoration but did not provide further details on the potential effects on Japanese crude supplies.
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