TOKYO, Apr 24 (News On Japan) –
The first tanker carrying U.S. crude oil procured by Japan as an alternative supply source after the attacks on Iran is set to arrive on April 26, as the government moves to stabilize energy supplies and prepares a second release of national petroleum reserves.
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According to the Ministry of Economy, Trade and Industry and other sources, the tanker loaded with crude oil is expected to reach waters off Chiba Prefecture at around noon on April 26.
This will be the first shipment of U.S. crude secured after the start of the Iran attacks to reach Japan. The vessel is carrying 910,000 barrels of crude oil.
U.S. crude shipments typically take around 55 days to arrive in Japan. This time, however, the tanker is scheduled to complete the journey in 35 days by transiting the Panama Canal.
Cosmo Oil, which arranged the purchase, said it secured a smaller vessel capable of passing through the Panama Canal in order to accelerate alternative procurement.
Meanwhile, the government plans to begin a second round of national petroleum reserve releases totaling about 36.5 million barrels from May 1. The phased release will start at the Shibushi base in Kagoshima Prefecture before expanding to 10 bases nationwide.
Source: TBS
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