Japan bought a shipment of Russian oil on Friday, marking its first purchase since February 2022. The oil, carried by the oil tanker Voyager, is expected to reach the port of Kikuma on Shikoku Island on May 3. The delivery is destined for Taiyo Oil’s refinery on Shikoku Island, with the purchased oil being of Sakhalin Blend grade.
The Japanese government has also announced additional releases of national oil reserves, amounting to about 20 days of domestic consumption, from oil bases in Ibaraki Prefecture. This move is part of Japan’s efforts to secure approximately 60% of its crude oil needs for May through alternative routes that bypass the Strait of Hormuz. Prime Minister Sanae Takaichi mentioned diversifying oil sources to include regions like Central Asia, Latin America, and the Asia-Pacific.
In response to the energy supply challenges following conflicts in West Asia, Japan had previously released around 50 days’ worth of oil from state and other reserves. This decision reflects Japan’s strategic approach to ensuring stable energy supply amidst geopolitical uncertainties.
