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Saudi Arabia provided nearly 41% of Japan’s crude oil imports in May 

01 Jul 2020
Over 90% of Japan’s imported oil, its largest source of energy, came from the Middle East, predominantly Saudi Arabia.
Over 90% of Japan’s imported oil, its largest source of energy, came from the Middle East, predominantly Saudi Arabia.
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Updated 01 Jul 2020
01 Jul 2020

Khaldon Azhari

TOKYO: Japan’s imports of crude oil from Saudi Arabia reached 28.9 million barrels, or 40.8% of the total in May, according to data from the Agency for Natural Resources and Energy, a department of the Ministry of Economy, Trade and Industry.

Japan imported a total of 70.7 million barrels during May, of which 93%, or 65.7 million barrels, was provided by Arab countries, the agency reported.

This shows Japan’s increasing dependence on oil obtained from Arab countries in order to meet the needs of its economy.

Imports from the UAE amounted to 22.6 million barrels or 32% of the total supply of oil imported, while imports from Kuwait equaled 7.5 million barrels, or 10.6%.

In May, imports from Qatar to Japan amounted to 4.7 million barrels, or 6.7%, and Russia provided 2.8 million barrels, or 4% of the total. Meanwhile, imports from Bahrain reached 2 million barrels, or 2.8%.

Kazakhstan, Ecuador, Malaysia and Australia provided 1,5%, 0.9%, 0.4% and 0.3% of the total crude oil imports respectively.

The boycott of Iranian oil by Japanese companies proceeded during May.

American sanctions against Tehran led oil and energy companies in Japan to stop importing Iranian crude since last year.

Prior to the sanctions, Iranian oil provided about 5% of Japan’s oil needs.

Japanese companies’ boycott of Iranian oil continued during May. American sanctions against Tehran have led oil and energy companies in Japan to stop importing Iranian crude since last year. Iranian oil was previously providing about 5% of Japan’s oil needs.

The total quantity oil imported to Japan declined during May as a result of a decrease in economic activities due to the impact of the coronavirus COVID-19 outbreak on daily life and various businesses, specifically the global airline industry, which is a major consumer jet oil.

The figures cited represent the quantities of oil that arrived to refineries, tanks and warehouses located at ports in Japan during the month of May 2020.

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