Japan’s Taiyo Oil buys Russian oil as part of supply diversification efforts

  TOKYO:Japanese oil company Taiyo Oil has purchased a cargo of Russia’s Sakhalin Blend crude oil from the Sakhalin Region as part of effort...

 

TOKYO:Japanese oil company Taiyo Oil has purchased a cargo of Russia’s Sakhalin Blend crude oil from the Sakhalin Region as part of efforts to diversify supply sources beyond the Middle East, a company representative told TASS.

According to the Taiyo Oil representative, the company "has a social responsibility to ensure stable supplies of petroleum products" and therefore "is acting appropriately in cooperation with the Agency for Natural Resources and Energy." For this purpose, Japan’s national oil reserves are being used, while "efforts are also being made to diversify supplies [from regions] outside the Middle East," the representative said.

The company representative noted that "supplies of Sakhalin Blend oil are not subject to sanctions." At the same time, no decisions have been made regarding future purchases of it, the representative added.

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