The largest operation in its history.. Japan begins withdrawing from the strategic oil reserve
Started The Japanese government, today, Thursday, pumped quantities of strategic oil reserves, in an attempt to ensure the flow of petroleum products to the country in light of the closure of the Strait of Hormuz against the backdrop of the American war with Iran.
This is the first and largest pumping of oil from strategic reserves of its kind in Japan since the Russian invasion of Ukraine in 2022.
The Japanese government stated that it will pump about 8.5 million kiloliters, equivalent to 30 days of Domestic consumption, from reserve oil stores across the country.
Tokyo had already begun pumping quantities of OilSufficient for 15 days of private sector reserves since March 16.
Japan depends on the Middle East for more than 90% of its crude oil imports, making it highly vulnerable to the risk of supply disruptions due to the conflict that has led to a sharp rise in Crude oil and gasoline prices in the country.
To confront the energy crisis, the government decided to release about 80 million barrels of oil, the largest amount ever released.
This amount is equivalent to 45 days of domestic consumption, equivalent to 1.8 times the amount that was released following the devastating earthquake and tsunami that struck northeastern Japan in 2011.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
