“We will increase the procurement of crude oil outside the Middle East,” said Katsuyuki Ota, president of JXTG Energy Co., Ltd., the largest oil source seller, in an interview, Dec. 26.

The goal could be achieved by expanding trade from the US and Far Eastern Russia in terms of energy security. 

Ota explained that in response to the recent Aramco attacks in Saudi Arabia, he increased his judgment that diversification was necessary to avoid risks. 

For that it’s important to plan to strengthen ties with Russia, one of the world's leading oil-producing nations, and a resource-rich country close to Japan, he said. 

However, the Middle East cannot be replaced easily because it provides an “overwhelming” size of imports and that could not change its position as “a major supplier,” he said.  

Although no data has been released, the Middle East's share of crude oil imports is expected to be over 80%.

Because it is difficult to reduce dependence on the Middle East at a stretch, it is a key point for oil transportation, but it will also consider expanding procurement from Oman and other places where tankers do not have to pass through the Strait of Hormuz.

JIJI Press