71465
Japan Using  Strategic   Reserves
Japan Using  Strategic   Reserves

Japan Using Strategic Reserves

Japan Using Strategic Reserves

Japan has sold 2.08 million barrels of Khafji crude from the government’s Strategic Petroleum Reserves amid a shift by the nation’s refiners to process lighter grades, a trade ministry official said. The Khafji grade was stored at Shibushi national oil storage in Kagoshima, southern Japan, and is to be delivered sometime between October and February, the official said on Wednesday. The tender was held last week, Reuters reported. This marks the government’s first sale from the Strategic Petroleum Reserves since 2015. Trading house Mitsui & Co has won the tender, trading sources said, but the company declined to comment. The tender was not related to any emergency release coordinated by the International Energy Agency. Khafji crude, a heavy-sour variety, comes from a shared neutral zone field between Saudi Arabia and Kuwait. Japan has been trying to replace heavier crude in its national reserves with lighter grades for years to reflect the growing share of light crudes in imports.

 

Short URL : https://goo.gl/WXvv3h
  1. https://goo.gl/oevw9U
  • https://goo.gl/MSB9Ta
  • https://goo.gl/ZQozAm
  • https://goo.gl/qAuHDE
  • https://goo.gl/DXMSBi

You can also read ...

Sweden Approves Nord Stream 2 Pipeline
While Denmark is yet to give permission for the Nord Stream 2...
Chinese Tariffs Will Crimp American Shale Production
China’s proposed tariffs on US petroleum imports, part of a...
India Sees $55-60 Oil Price Reasonable
India, the world’s third-largest oil consumer, expects a...
NIOC Plans to Increase Oilfield Capacity
National Iranian Oil Company plans to increase the production...
OPEC reached an agreement with Russia in 2016 to keep 1.8 million bpd off the market.
Oil Minister Bijan Namdar Zanganeh rejected leaving the 2016...
Sixfold Rise in Zanjan Petrochem Plant Capital
Zanjan Petrochemical Complex’s registered capital has...
Renewable Power Plants' Dues Settled in Full
The state-run Renewable Energy Organization of Iran, aka SUNA...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus