Japanese Oil Company Buys Russian Crude to Diversify Supply
Theo TASS
Japan's Taiyo Oil has purchased a cargo of Sakhalin Blend crude from Russia as part of a strategy to diversify supply sources beyond the Middle East. The company stated the cargo is not subject to sanctions and that it is coordinating with Japanese authorities. No decision has been made on future purchases.
On May 2, Russia's TASS news agency quoted a representative of Japan's Taiyo Oil as saying the company had purchased a cargo of Sakhalin Blend crude from Russia's Sakhalin region. The move is part of a strategy to diversify supply sources and reduce reliance on the Middle East.
According to the representative, Taiyo Oil has a social responsibility to ensure a stable supply of petroleum products. Therefore, the company is closely coordinating with Japan's Agency for Natural Resources and Energy and utilizing national stockpiles. The representative emphasized: "Efforts are also being made to diversify supply sources from regions outside the Middle East."
Notably, the company confirmed that "shipments of Sakhalin Blend oil are not affected by sanctions." However, no decision has been made yet regarding future purchases of this type of oil.
