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Gulf states export 4.2 million oil barrel per day to Japan
Gulf states export 4.2 million oil barrel per day to Japan
Japan imports nearly 4.2 million oil barrel per day from the Gulf Cooperation Council (GCC) Arab states, said Sunday here Hideichi Okada, Japan's Vice-Minister for International Affairs at the Ministry of Economy, Trade and Industry.
The Japanese official said upon his arrival in Kuwait earlier today to take part in the 4th Roundtable Meeting of Asian Ministers of Oil and Energy, due tomorrow, that his country will need further energy to make up for the shortage recently faced on the aftermath of the earthquake that hit it, and adversely affected the nuclear-powered electricity all over the country.
Okada said that his country received several overtures from GCC to provide it with Liquefied Natural Gas (LNG) in the wake of the earthquake, adding that the Roundtable Meeting will mull Japan's needs for energy, and the mechanisms of making up for any shortage there through importing from the GCC.
Okada expected that Japan's demand for energy will continue to soar in the coming period, though it will experience a little dwindle due to earthquake's implication on the Japanese economy, then it will pick up again later on.
As for Ali Al-Naimi, Saudi Minister of Petroleum and Mineral Resources, he asserted that global oil market has extra supplies, making clear that his country can provide necessary supplies to consumers if they ask.
Further, Al-Naimi said, at a press conference upon his arrival in Kuwait to participate in the Roundtable Meeting, that Saudi oil output hit 9.125 million barrel per day last February.
Al-Naimi also said that Saudi oil output hit 8.292 million bpd last March, expecting it to exceed such mark this month, while making clear that dwindling oil output between February and March is a clear proof that global energy market sees an oversupply, signaling that Saudi daily output capacity amount to 12.5 million bpd.
Global Arab Network