-- Japan agreed to buy an additional 20 million barrels of crude oil from the United Arab Emirates as Tokyo seeks alternative supply routes amid disruptions around the Strait of Hormuz, Nikkei reported Wednesday.
The agreement followed talks in Abu Dhabi between Economy Minister Ryosei Akazawa and UAE Industry Minister Sultan Al Jaber. Akazawa said he requested additional shipments to Japan, according to the report.
The extra crude would cover about eight to nine days of Japan's oil demand based on 2025 consumption levels. Part of the supply is expected to ship through Fujairah on the Gulf of Oman, avoiding the Strait of Hormuz, the report said.
Japan imports about 40% of its crude from the UAE and has been seeking alternative supply channels as Middle East tensions intensify. Tokyo also secured 1 million barrels of crude from Mexico last month, according to the report.
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