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Japanese firm starts Saudi oil imports
Edomitsu Kusan, a Japanese company, has begun importing Saudi crude oil from the Yanbu port via the Suez Canal and the Cape of Good Hope, despite challenges related to increased transportation costs and extended voyage durations, which have reached 50-60 days due to maritime disruptions in the Red Sea. The company affirms its continued purchase of Saudi oil, even though regional disturbances have prompted Japan to draw from its reserves and seek alternative routes. Japan remains heavily dependent on Middle Eastern oil, with a 94% reliance on imports from the region and 93% of those through the Strait of Hormuz. Statements suggest that maintaining dependence on regional oil remains a priority; however, efforts are underway to diversify supply sources to avoid over-reliance and to manage the high costs associated with major shifts in the type of imported oil.
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