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Abu Dhabi Petronas will store oil in Japan

 Last Update: 2021-08-27
 Source: Internet
 Author: User

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Recently, Abu Dhabi National Petroleum Corporation and Japan signed a crude oil storage agreement
.

According to the agreement, Abu Dhabi Petronas will store more than 8 million barrels of crude oil in storage facilities in Japan and conduct transactions when the company enters the Japanese oil trading business

The CEO of Abu Dhabi Petronas issued a statement saying: “This new three-year agreement not only protects Japan’s energy security, but also supports the company’s broader trade
.

” Reuters estimated that about a quarter of Japan’s Crude oil imports come from the UAE, and 90% of Japan's oil demand comes from the Middle East

Recently, Japan National Petroleum, Natural Gas and Metals Corporation and Saudi Aramco renewed the crude oil storage tank lease agreement
.

In the next three years, Saudi Aramco will store crude oil at a factory in Okinawa, and Japan will give priority to obtaining these crude oils in emergency situations

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