Large-scale crude oil storage tanks are seen within the background at a Sodegaura Refinery in Sodegaura, Chiba Prefecture, Tokyo Bay, Japan, April 6, 2026. /VCG
Japan plans to launch 20 days’ price of oil reserves from May, Prime Minister Sanae Takaichi instructed a cupboard assembly on Friday, to make sure a steady home provide whereas looking for non-Middle East barrels as battle within the area disrupts international provide.
Japan depends on the Middle East for some 95% of its oil. It started releasing reserves on March 16 unilaterally and in coordination with different nations beneath a plan to make obtainable sufficient oil to final 50 days. The 20 days’ price is extra.
As of April 6, Japan had sufficient oil for 230 days in its reserves, together with 143 days price in its public stockpile.
By May, Japan ought to be capable of safe greater than half of its oil imports through routes that don’t embrace the Strait of Hormuz, Takaichi mentioned, with out naming the sources.
Such routes within the Middle East embrace these from the Port of Yanbu on Saudi Arabia’s Red Sea coast and Port of Fujairah within the United Arab Emirates.
Japan has additionally contacted suppliers within the US, Malaysia, Central Asia – resembling in Azerbaijan and Kazakhstan -, Latin America – together with Brazil, Argentina, Ecuador, Colombia and Mexico – and Africa resembling in Nigeria and Angola.
The authorities has requested suppliers to promote gasoline on to sectors resembling healthcare, transportation and agriculture, together with inexperienced tea producers, livestock and fisheries, Takaichi mentioned.
Source: CGTN