TOKYO: Japan’s imports of crude oil from Saudi Arabia reached 22.87 million barrels, or 39.8% of the total in June, according to data from Agency for Natural Resources and Energy belonging to the Ministry of Economy, Trade and Industry.
Japan imported a total of 57.33 million barrels during June, of which 95.2%, or 54.57 million barrels, were provided by five 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.It also highlights the importance of Arab countries in Japan’s energy mix, where most nuclear reactors are not operating.
Imports from the United Arab Emirates amounted to 20.13 million barrels or 35.1%, while imports from Kuwait equaled 6.35 million barrels, or 11.1%.
In June, Japan imported 4.76 million barrels, or 8.3% from Qatar, and Bahrain provided a little over 477 thousand barrels, or 0.9%. There were no imports from Oman in June, METI data showed.
Russia provided 733,3 thousand barrels, or 1.3% of the total supply of oil imported, and almost a similar amount was imported from Ecuador in South America.
The United States provided 210 thousand barrels, 0.4% or the total. VietNam, Malaysia and Thailand provided 1,6%, 0.3%, and 0.1% of the total crude oil imports respectively.
The boycott of Iranian oil by Japanese companies proceeded during June.
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.
The decrease of imported oil to Japan continued in June 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.
Japan imported 83.34 million barrels during the same month (June) last year, and imported 70.7 million barrels in May this year.
The figures cited represent the quantities of oil that arrived to refineries, tanks and warehouses located at ports in Japan during the month of June 2020.
Japan’s imports of crude oil from Saudi Arabia reached 22.87 million barrels, or 39.8% of the total in June
Over 90% of Japan’s imported oil, its largest source of energy, came from the Middle East, predominantly Saudi Arabia.
More than 90% of Japan’s imported oil came from the Middle East during June, predominantly Saudi Arabia.