Japan to Procure 70 Pct of Oil for June from Alternative Sources

Tokyo, May 12 (Jiji Press)–Japan is expected to secure over 70 pct of its crude oil procurement in June from sources other than the Middle East, Prime Minister Sanae Takaichi said Tuesday. At a meeting of related ministers on the day, Takaichi instructed industry minister Ryosei Akazawa to make efforts to further increase the rate of crude oil procurement from alternative sources in July. Considering the progress of these efforts, Takaichi said that the government will not additionally release state oil reserves this month. In June, Japan plans to procure crude oil from Africa, in addition to the United States, Latin America and Central Asia. Meanwhile, the Japanese government will accept requests from medical institutions, starting Monday, for the planned release of 5,000 government-stockpiled medical gloves, announced last month. Also on Tuesday, the industry ministry asked the Japan Chamber of Commerce and Industry and the Japan Automobile Manufacturers Association to cooperate for a stable supply of lubricant oil, used in automobile engines, by limiting purchases to the same levels as a year earlier. Shipments of paints and paint thinners are rebounding, but uneven supply and distribution bottlenecks are preventing some painting companies from obtaining them. To resolve the problem, the ministry’s regional bureaus and others will work together to check shipments at 108 wholesalers and retailers. END [Copyright The Jiji Press, Ltd.]