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Wednesday , June 19 2019

Kuwait overtakes Qatar to become Japan’s ‘third biggest’ oil provider

TOKYO, Dec 2, (KUNA): Kuwait’s crude oil exports to Japan in October jumped 28.3 percent from a year earlier to 7.11 million barrels, or 229,000 barrels per day (bpd), overtaking Qatar to become Japan’s third biggest oil provider, Japanese government data shows.

The volume of Kuwaiti oil bound for Japan rose for the first time in two months, providing 7.4 percent of the Asian nation’s total crude imports, compared with 6.1 percent in the same month of last year, the Japanese Natural Resources and Energy Agency said in a preliminary report. Japan’s overall imports of crude oil grew 5.5 percent year-on-year to 3.09 million bpd for the first expansion in two months. Shipments from the Middle East, accounted for 86.2 percent of the total, down 1.5 percentage points from the year before.

Saudi Arabia remained Japan’s No.1 oil supplier, with imports from the kingdom rising 8.2 percent from a year earlier to 1.26 million bpd, followed by the United Arab Emirates with 760,000 bpd, up 12.6 percent. Qatar ranked fourth with 220,000 bpd and Russia fifth with 162,000 bpd, respectively. Japan is the world’s-third biggest oil consumer after the US and China

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