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Japan Fuel Oil Imports at 4 Year High

OIL

Japan fuel oil imports increased to a 4-year high in August according to Vortexa

  • Asian utilities are increasing stocks of fuel oil for winter power generation. Fuel oil is an alternative option for power generation instead of using gas. Governments are prioritising security of supply over environmental concerns and net zero targets.
  • Imports of fuel oil by Taiwan and Bangladesh also increased to more than double volumes last year.
  • Japan imports “are likely to remain robust in the coming months” according to Vortexa. They added that other Asian countries with oil fired power generation capacity like Taiwan, South Korea and Pakistan will at least maintain current imports.

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