TOKYO, Apr 26 (News On Japan) –
American crude oil secured as an alternative supply source has arrived in Japan for the first time, as the de facto closure of the Strait of Hormuz makes procurement from the Middle East increasingly difficult.
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The cargo that arrived on April 26 departed Texas on March 22. It marks the first shipment of substitute US crude to reach Japan since the deterioration of the situation in the Middle East.
The imported crude will be transported through an undersea pipeline to Cosmo Oil’s Chiba refinery.
Japan’s crude oil imports from the United States in May are expected to rise to around four times the level of a year earlier.
The government has been accelerating efforts to secure alternative crude supplies that do not pass through the Strait of Hormuz. It said roughly 60% of the required volume for May has now been secured.
Source: FNN
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