TOKYO, Sept. 15 -- Ministry of Economy, Trade and Industry issued text of the following statement:
Opening Remarks
none
Question-and-Answer Session
Situation in the Middle EastQ: Regarding the situation in the Middle East, there have been reports of an attack on a Saudi Arabian crude oil pipeline and of Shia Muslims gaining control over the Red Sea. I would like to ask you about your assessment of the impact this might have on Japan's alternative crude oil procurement routes and on oil exports to Japan. I would also like to know if the situation has reached a point where measures such as the additional release of national crude oil stockpiles are being considered. Thank you.
A: Regarding the situation in the Middle East, I am aware of the media reports. The Government of Japan is seriously concerned about the situation in the Middle East, and we are monitoring the developments with great concern. Regarding the report that the operations of Saudi Arabia's East-West pipeline are currently suspended, it is difficult to make any predictions about the impact on Japan's crude oil procurement, as the outlook for the situation in the Middle East remains uncertain. However, alongside the release of our national crude oil stockpiles, the Government of Japan has, through public-private cooperation, made the utmost efforts toward the alternative procurement of crude oil. That said, I would like to state that even if the current situation were to continue for some time, our outlook remains unchanged: we are confident that we can secure the quantities of crude oil and petroleum products for Japan necessary as a whole, given that procurement from other countries, such as the United States and the UAE, is proceeding, and that we hold combined national and private reserves sufficient for approximately 200 days. We will continue to do all we can do to ensure a stable supply of energy in Japan.
Regarding the approach to the release of national crude oil stockpiles, I understand that restoration work on Saudi Arabia's East-West pipeline is currently underway, and we are closely monitoring the situation. Even assuming that restoration takes some time, I believe that the release of national crude oil stockpiles remains unnecessary for October. This assessment is based on the fact that the majority of crude oil tankers bound for Japan have already departed, and that private oil stockpiles have currently been built up to a level of approximately 95 days' worth of supply, making them available for use. Regarding the necessity of releasing further stockpiles after this timeframe, all I can say at this moment is that we intend to make an appropriate decision while monitoring the progress on the recovery of the Saudi Arabian pipeline and the status of the private sector's oil procurement.
Last updated:2026-09-17
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