Kuwait Grew Oil Exports to Japan by 11.7%

Kuwait Grew Oil Exports to Japan by 11.7%

According to government data, Kuwait’s crude oil exports to Japan jumped 11.7% percent in October when compared to 2015 volumes for the same period, to reach 6.62mb, or 214,000b/d, up for the third consecutive month, Kuwait News Agency (KUNA) reported.

Bases on a preliminary report from the Japanese Natural Resources and Energy Agency, Kuwait overtook Iran to become Japan’s fourth-biggest oil provider last month, supplying 7% of the Asian nation’s total crude imports, informed Hellenic Shipping News. Furthermore, state-run Kuwait Petroleum Corporation (KPC) announced in late November that Kuwait’s crude oil exporting contracts with Japan have recently increased 28 percent.

Japan’s overall imports of crude oil declined 2.1% year-on-year to 3.06mb/d for the fourth consecutive month of fall. Shipments from the Middle East accounted for 87% percent of the total, up from 10% in 2015. Saudi Arabia remained Japan’s number one oil supplier, with imports from the kingdom surging at 19.4% from 2015 to 1.26mb/d, followed by the United Arab Emirates with 688,000b/d, down 1.3%. Qatar ranked third with 219,000b/d and Iran fifth with 202,000b/d, respectively.


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