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Japan Releases Tenders for IEA Release Commitment

OIL

Japan will sell around 4.72 million barrels of crude oil from its national oil reserves through tenders in June as part of its International Energy Agency joint release commitment the Ministry of Economy, Trade and Industry announced today.

  • Japan intends to sell about 2.33 million barrels of Hout crude in up to three shipments from the Tomakomai national oil reserves terminal in Hokkaido over July 20-September 30 via a tender on June 10.
  • The country also plans to sell around 818,000 barrels of Hout crude in up to two shipments from the Okinawa oil storage terminal over July 20-September 30 via another tender June 10.
  • From the Onahama oil terminal in the northeast, Japan plans to sell around 1.57 million barrels of Attaka crude produced in Indonesia in up to three shipments over July 20-September 30 via another tender June 10.
  • Japan has committed 15mn bbls to the IEA release.
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