Japan Sees No Immediate Impact from Hormuz Strait Disruption

Tokyo, March 2 (Jiji Press)–An ongoing disruption in crude oil transport through the Strait of Hormuz has no immediate impact on Japan’s oil supply, Chief Cabinet Secretary Minoru Kihara said Monday. Some Japan-bound crude oil tankers are on standby in the Persian Gulf after suspending passage through the strait due to rising tensions in the region, Kihara said at a press conference. But he said, “We have not received any reports of an immediate impact on oil supply in our country.” The Japanese government does not plan to release its oil reserves at this point, Kihara said. The Japanese government has stockpiled crude oil and petroleum products to last 146 days, while the private sector has stockpiles for 101 days and a joint reserve of oil-producing countries for seven days, for a total of 254 days, Kihara said. Power and gas utilities in Japan have stocks of liquefied natural gas equivalent to roughly three weeks of national consumption, he said. “We will continue to take all possible measures to secure a stable energy supply while closely monitoring the situation,” Kihara said. END [Copyright The Jiji Press, Ltd.]