Tokyo, April 28 (Jiji Press)–Japan’s Idemitsu Kosan Co. is set to provide about 4 million barrels of crude oil to Vietnam, it was learned Tuesday. The crude oil, procured from the Middle East and transported on a route not using the Strait of Hormuz, will be refined into petroleum products such as gasoline and naphtha in Vietnam for sale in the Southeast Asian nation, according to sources familiar with the matter. The move by Idemitsu, a major oil wholesaler, is expected to help maintain supply chains, including for Japan and other countries. Consumer electronics and auto parts manufactured in Vietnam using oil-based materials are exported to Japan. The crude oil in question was procured by Idemitsu and will be processed at facilities including the Nghi Son refinery in Vietnam. The company has a stake in the refinery. Four million barrels of crude oil are equivalent to about 10 days of consumption in Vietnam. Vietnam has faced difficulties procuring crude oil following the de facto blockade of the Strait of Hormuz, a critical waterway for Middle East oil. In March, then Vietnamese Prime Minister Pham Minh Chinh sent a letter seeking help to Japanese Prime Minister Sanae Takaichi. END [Copyright The Jiji Press, Ltd.]
Idemitsu to Supply 4 M. Barrels of Crude Oil to Vietnam
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