Japan, UAE Storage Deal

Japan, UAE Storage DealJapan, UAE Storage Deal

Tokyo has agreed in principle to allow the UAE to store crude in Japan for three more years, giving the No.2 crude supplier to Japan continued access to a supply depot. The deal allows UAE to get free crude storage space of 6.29 million barrels (mb) at Kiire oil terminal in southern Japan. Currently Japan lends storage of 4.4 mb to the UAE, Reuters reported.