Arab News Japan

TOKYO: Arab oil continues to remain a vital source, over 95%, of all Japan’s oil needs in July 2023, according to the Agency for Japanese Natural Resources and Energy of the Japanese Ministry of Economy, Trade and Industry. 

Japan’s imports of Saudi crude oil amounted to 27.6 million barrels, 38%, a slight drop from the 28.9 million barrels of the previous month.

During the month of July, Japan imported about 72.61 million barrels in total – the Arab oil share was 69.10 million barrels, supplied by five Arab countries: the UAE, Saudi Arabia, Kuwait, Qatar and Bahrain, according to the data.

Japan imported about 30.06 million barrels from the UAE, 41.4% of all July imports. Kuwait provided 7.6 million barrels, or 10.5% of the total and Qatar provided about 3 million barrels, 4.2%. Japan also imported 0.7% from Bahrain, and 0.4% from the Neutral Zone.

While the Japanese ban remains on importing oil from Iran and Russia, the rest of Japan’s oil imports in July came from the United States of America (3%), Southeast Asia (0.9%), Central and South America (0.8%), and Oceania (0.1%).

The figures cited represent the quantities of oil that arrived at refineries, tanks and warehouses in ports in Japan during July 2023. Japan uses oil to generate about a third of its energy needs.