Second Release of National Crude Oil Stockpiles

1. Overview

In order to address the current situation in the Middle East, METI is making the utmost effort to secure routes to procure crude oil while avoiding the Strait of Hormuz, and at this point, METI expects that procurement of more than half of oil supply through alternative sources will be possible by May compared with last year's levels.　As a result of progress in procurement through alternative sources , it is expected that Japan’s oil supply will be secured beyond the end of the year, while limiting the volume of stockpiles to be released.

Under the circumstances, in order to continue to ensure a stable supply of crude oil, METI will implement the second release of national crude oil stockpiles, as follows.

2. Details of the release

Planned total volume to be released

Approximately 5.8 million kiloliters

Planned total value to be released

Approximately 540 billion yen

Release bases

• Tomakomai-Tobu National Petroleum Stockpiling Base
• Kikuma National Petroleum Stockpiling Base
• Akida National Petroleum Stockpiling Base
• Shirashima National Petroleum Stockpiling Base
• Kamigotou National Petroleum Stockpiling Base
• Shibushi National Petroleum Stockpiling Base
• Hokkaido Office, Hokkaido Joint Oil Stockpiling Co., Ltd.
• Seibu Oil Sanyo-Onoda Office, Seibu Oil Company Limited
• Kashima Crude Oil Tank Yard, Kashima Oil Co., Ltd.
• Okinawa Office, Okinawa CTS Corporation

Planned timing of release

Sequentially from May 1 (Friday) onward

Recipients

• ENEOS Corporation
• Idemitsu Kosan Co., Ltd.
• Cosmo Oil Co., Ltd.
• Taiyo Oil Company, Limited

Division in Charge

Fuel Supply Infrastructure Policy Division, Agency for Natural Resources and Energy