Takaichi orders measures to ensure petroleum product supplies
Japan will begin releasing 30 days of state oil reserves this week as the government races to secure fuel supplies amid mounting Strait of Hormuz disruption.
- Prime Minister Takaichi instructed ministries to create measures to ensure stable supplies of petroleum products amid escalating conflict in the Middle East.
- The order is a response to concerns over potential shortages caused by Iran's de facto closure of the Strait of Hormuz, a key oil transport route.
- As a direct measure, the government plans to begin releasing 30 days' worth of its state oil reserves.
- A release of joint oil stockpiles held with oil-producing countries is also expected to occur by the end of the month.
Japanese Prime Minister Sanae Takaichi on Tuesday (March 24) instructed ministries and agencies to draw up measures to ensure stable supplies of petroleum products, such as naphtha, amid the escalating conflict between the US-Israeli forces and Iran.
At the day's meeting of relevant cabinet ministers on Middle Eastern affairs, Takaichi told them to work toward achieving an early stabilisation of the situation in the region and securing energy supplies for Japan.
"To protect Japanese people's lives and livelihoods, I would like you to compile response policies based on (the levels of) the country's stockpiles" of petroleum products, the prime minister said.
Concerns over potential shortages of such products are growing due to Iran's de facto closure of the Strait of Hormuz, a key oil transport waterway.
Also at the meeting, held at the prime minister's office, Takaichi said that the government plans to begin releasing 30 days' worth of state oil reserves on Thursday.
She added that the release of joint oil stockpiles held with oil-producing countries is expected to take place by the end of this month.
[Copyright The Jiji Press, Ltd.]
