KN:Kuwait''s crude oil exports to Japan jump 59.2 pct
(With Photo) TOKYO, Oct 31 (KUNA) -- Kuwait's crude oil exports to Japan surged 59.2 percent in September from a year earlier to 9.59 million barrels, or 320,000 barrels per day (bpd), for the first increase in two months, the government said Monday. The figure was the highest since July, when its shipments hit 10.
28 million barrels (332,000 bpd).
Kuwait, the third-biggest oil provider to Japan in September, supplied 8.9 percent of Japan's total crude imports, compared with 5.8 percent in the same month of last year and 3.6 percent in August, the Japanese Natural Resources and Energy Agency said in a preliminary report.
The value of Japan-bound shipments steadily account for 20 percent of Kuwait's total oil revenue, Kuwait Petroleum Corporation (KPC) Chief Executive Officer Farouk Al-Zanki said earlier this month.
Japan's overall imports of crude oil rose 4.5 percent year-on-year to 3.6 million bpd for the first rise in seven months. Shipments from the Middle East rose 12.0 percent to 3.2 million bpd, and accounted for 89.0 percent of the total, up 6.0 percentage points from the year before.
Saudi Arabia seized the top spot, with imports from the kingdom jumping 23.
2 percent from a year earlier to 1.21 million bpd, followed by the United Arab Emirates with 840,000 bpd, up 18.8 percent. Qatar ranked fourth, with shipments rising 9.3 percent to 311,000 bpd. Iran became fifth with 292,000 bpd.
Resources-poor Japan is the world's third-largest oil consumer after the US and China, and it relies on crude oil imports for about 50 percent of its energy needs. Shipments of direct-deal, which prices are based on the average spot price of Dubai crude, the benchmark for Asia, account for about 80 percent of Japan's crude imports. (end) mk.asa KUNA 311137 Oct 11NNNN