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| Today: 09 February 2010 Time: 08:28 PM |
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| Japan''s crude oil imports from Kuwait jump 20.2 percent |
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| Power & Materials 9/29/2007 10:03:00 AM |
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TOKYO, Sept 29 (KUNA) -- Japan's crude oil imports from Kuwait soared 20.2
percent in August from a year earlier to 9.97 million barrels but fell 19.1
percent from the previous month, according to the latest government report.
Kuwait oil accounted for 7.7 percent of nation's crude oil in August,
compared with 9.2 percent in July and 6.6 percent in the same month of last
year, the Japanese Natural Resources and Energy Agency, a unit of the Ministry
of Economy, Trade and Industry, said in a preliminary report.
Japan, Kuwait's largest oil buyer, imported Kuwaiti crude 108.49 million
barrels last year.
Japan's overall imports of crude oil edged up 3.0 percent from a year
earlier to 129.69 million barrels for third straight monthly increase, with
imports from the Middle East accounting for 87.8 percent of the total, down 1.
9 percentage points from the year before but rose 2.8 percent from July.
Saudi Arabia remained Japan's biggest oil supplier, although imports from
the country shrank 18.7 percent from a year earlier to 30.58 million barrels,
followed by the United Arab Emirates with 30.56 million barrels, down 13.2
percent.
Iran became third, with imports rising 32.8 percent to 16.39 million
barrels. Qatar ranked fourth with 13.14 million barrels, down 12.6 percent.
Japan contains almost no oil reserves of its own and its overall energy
dependence on petroleum has been declining, but the nation is the world's
third largest oil consumer after the US and China.
Japanese oil companies procure about 80 percent of their crude oil through
direct-dealing transactions, which are based on the spot market price of Dubai
crude, the benchmark for the Asian region. (end)
mk.ema
KUNA 291003 Sep 07NNNN
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