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A tanker carrying crude oil from the United Arab Emirates has arrived in Japan, first under the country’s joint stockpile program with three oil-producing nations since the Middle East war began, to replenish dipping Japanese oil reserves.
According to Associated Press Friday’s shipment arrived at the Eneos Kiire reserve base in the southern prefecture of Kagoshima, the Economy and Industry Ministry said.
The UAE is one of three Middle Eastern oil producing countries that Japan has the joint stockpiling arrangement.
Under the program, the three nations, which also include Saudi Arabia and Kuwait, store crude oil reserves in Japan, and in return give Japanese companies preferential purchase rights in an emergency.
Japan, most of whose oil imports come through the Strait Hormuz, has also tapped into national oil reserves and commercial stockpiles.
The joint stockpile program reserves have decreased from six days’ worth in March to just one day, the ministry said.
Japanese media reports, including NHK national television, said Friday’s shipment is a refill worth about one day.
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