• 22 hours Iraq Begins To Rebuild Largest Refinery
  • 1 day Canadian Producers Struggle To Find Transport Oil Cargo
  • 1 day Venezuela’s PDVSA Makes $539M Interest Payments On Bonds
  • 1 day China's CNPC Considers Taking Over South Pars Gas Field
  • 1 day BP To Invest $200 Million In Solar
  • 1 day Tesla Opens New Showroom In NYC
  • 1 day Petrobras CEO Hints At New Partner In Oil-Rich Campos Basin
  • 1 day Venezuela Sells Oil Refinery Stake To Cuba
  • 2 days Tesla Is “Headed For A Brick Wall”
  • 2 days Norwegian Pension Fund Set to Divest From Oil Sands and Coal Ventures
  • 2 days IEA: “2018 Might Not Be Quite So Happy For OPEC Producers”
  • 2 days Goldman Bullish On Oil Markets
  • 2 days OPEC Member Nigeria To Issue Africa’s First Sovereign Green Bond
  • 2 days Nigeria To Spend $1B Of Oil Money Fighting Boko Haram
  • 2 days Syria Aims To Begin Offshore Gas Exploration In 2019
  • 2 days Australian Watchdog Blocks BP Fuel Station Acquisition
  • 3 days Colombia Boosts Oil & Gas Investment
  • 3 days Environmentalists Rev Up Anti-Keystone XL Angst Amongst Landowners
  • 3 days Venezuelan Default Swap Bonds At 19.25 Cents On The Dollar
  • 3 days Aramco On The Hunt For IPO Global Coordinators
  • 3 days ADNOC Distribution Jumps 16% At Market Debut In UAE
  • 3 days India Feels the Pinch As Oil Prices Rise
  • 3 days Aramco Announces $40 Billion Investment Program
  • 3 days Top Insurer Axa To Exit Oil Sands
  • 4 days API Reports Huge Crude Draw
  • 4 days Venezuela “Can’t Even Write A Check For $21.5M Dollars.”
  • 4 days EIA Lowers 2018 Oil Demand Growth Estimates By 40,000 Bpd
  • 4 days Trump Set To Open Atlantic Coast To Oil, Gas Drilling
  • 4 days Norway’s Oil And Gas Investment To Drop For Fourth Consecutive Year
  • 4 days Saudis Plan To Hike Gasoline Prices By 80% In January
  • 4 days Exxon To Start Reporting On Climate Change Effect
  • 5 days US Geological Survey To Reevaluate Bakken Oil Reserves
  • 5 days Brazil Cuts Local Content Requirements to Attract Oil Investors
  • 5 days Forties Pipeline Could Remain Shuttered For Weeks
  • 5 days Desjardins Ends Energy Loan Moratorium
  • 5 days ADNOC Distribution IPO Valuation Could Be Lesson For Aramco
  • 5 days Russia May Turn To Cryptocurrencies For Oil Trade
  • 5 days Iraq-Iran Oil Swap Deal To Run For 1 Year
  • 8 days Venezuelan Crude Exports To U.S. Fall To 15-year Lows
  • 8 days Mexico Blames Brazil For Failing Auction

Breaking News:

Iraq Begins To Rebuild Largest Refinery

Alt Text

The Coal Miners That Refuse To Resurface

Hundreds of Kazak coal miners…

Alt Text

Venezuela To Launch ‘Petro’ Cryptocurrency

Venezuela’s President Nicolas Maduro has…

Alt Text

Adapt Or Die: Oil Majors In The New World

ExxonMobil is one of the…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

More Info

Japan Importing Less Crude Oil; Gives Iran, Russia Cold Shoulder

Gas pump

Japan’s crude oil imports dropped to 3.055 million barrels per day in October, down by 5.6 percent from September, the Petroleum Association of Japan (PAJ) said on Friday.

According to the association’s supply and demand of crude oil statistics, the country imported in October a total of 15,056,810 kiloliters of crude oil which is equal to 3.055 million bpd. This compares to 3.237 million bpd imported in September. The October crude imports were the lowest level of exports so far this year.

The average oil import price stood at US$45.17 per barrel, compared to US$45.52 for September.

In addition to the decline in Japan’s crude oil imports, crude oil shipments from Iran to Japan dropped by 33 percent in October, while those from Saudi Arabia jumped by 26 percent. Japanese imports from Russia plummeted by 48 percent, while imports from Mexico, although significantly lower in volume compared to the others, soared by 232 percent.

According to ClipperData, Japan is the fourth largest importer of OPEC crude oil, although volumes were flat on year-ago levels at 2.75 million bpd. OPEC ships more than 15 million barrels per day to Asia, amounting to over 60 percent of its exports mainly to China, India, South Korea and Japan. Related: Oil Markets Not Convinced OPEC Deal Can Kill The Glut

In August of this year, Japan’s imports from Iran, for example, had jumped, with the four major Asian importers of oil increasing their imports of Iranian crude by 81.4 percent on the year in August, the highest level in at least five and a half years. In August, Japan’s imports of Iranian oil increased 31.4 percent to 235,612 bpd.

Last year, total Japanese crude oil imports fell by 2.3 percent annually to around 3.37 million bpd, the lowest level since 1988 as demand weakened.

In 2015, the Middle East accounted for 82 percent of Japan’s imports, 1.2 percentage points lower than in 2014, while Russia’s share of Japanese imports inched up by 0.7 percentage points to come in at 8.8 percent.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage


Leave a comment
  • EH on December 09 2016 said:
    Might be the HEDGE EFFECTS AND being held hostage to energy needs. The World caught on and moved on to more efficient and renewable sources,, kinda shot yourselves in the foot and should have been the Head,, now what.
  • EH on December 09 2016 said:
    Whoops there goes another bumbling, whoops,,,,there goes another

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News