KSA & UAE Provide 3 Quarters of Japan’s Oil Demand in January

Saudi Arabia maintained its position as top crude oil supplier to Japan in January with 36.54 million barrels, or 45.7 % of the total imports, according to data from Agency for Natural Resources and Energy belonging to the Ministry of Economy, Trade and Industry (METI.)

Japan imported a total of 80.01 million barrels during that month. 93.5 % of those were provided by 7 Arab countries, the agency reported. Imports from the United Arab Emirates amounted to 24.25 million barrels or 30.3 %, while imports from Qatar equaled 6.189 million barrels, or 7.7 % of the total. Kuwait equaled 4.4 million barrels, or 5.6 %.

Bahrain provided 1.85 million barrels or 2.3 % of the total, while imports from Oman amounted to 1.31 million barrels or 1.6 % in January, Algeria’s share was 0.3 % of the total, METI data showed. Imports from the natural zone, bordering Saudi Arabia and Kuwait were 185,643 barrels or 0.2 % of total imports.

Russia provided 2.30 million barrels, or 2.9 % of the total. American oil imported by Japan in January amounted to 0.6 % of total imports. Ecuador exported nearly 740,000 crude oil to Japan, or 0.9 % of the total imports. American sanctions against Tehran led Japanese oil and energy companies to stop importing Iranian crude since last year. Prior to the sanctions, Iranian oil provided about 5 % of Japan’s oil needs.

Countries of South East Asia, Vietnam, Thailand, Malaysia and Indonesia provided Japan with 1.2 million barrels (1.5 %). Crude from Australia and Papua New Guinea imported by Japan in January was each at 0.1 % of the total imports. The figures cited represent the quantities of oil that arrived to refineries, tanks and warehouses located at ports in Japan during the month of January.