Loading
Search
▼ Japan Begins 1st Release of State Oil Reserves in 4 Years
- Category:Other
The Japanese government began releasing the country's state oil reserves on Thursday, in an effort to ensure a stable supply of oil products amid Iran's de facto closure of the Strait of Hormuz.
This is the first such release since the previous one in response to Russia's invasion of Ukraine in 2022.
This time, about 8.5 million kiloliters, equivalent to 30 days of domestic consumption, will be released from oil reserve bases across the country.
This is the first such release since the previous one in response to Russia's invasion of Ukraine in 2022.
This time, about 8.5 million kiloliters, equivalent to 30 days of domestic consumption, will be released from oil reserve bases across the country.
On Thursday, crude oil was transferred from the Kikuma national petroleum stockpiling base in the western city of Imabari, Ehime Prefecture, to a nearby oil refinery operated by Taiyo Oil Co. via pipeline.
The government has already been releasing 15 days' worth of oil from private-sector reserves since March 16.
The government has already been releasing 15 days' worth of oil from private-sector reserves since March 16.
- 26/3 20:48
- Comment (0)
- Trackback(0)