ADNOC reaches agreement to increase crude storage in Japanese facilities

摘要

The new agreement between UAE's state-owned oil company and Japan's Agency fot Natural Resources and Energy will expand a previous agreement for three more years.Abu Dhabi National Oil Co.(ADNOC)will now be able to storage 8.18MM bbl of crude in Japan's storage facilities,a 30% increase compared to the previous agreement,which ended last year.The amount will be equal to four days of oil consumption in Japan and will help Japan increase its energy supply security.ADNOC will now be able to use crude oil stored in the Asian country's facilities to its clients but most provide specific volumes to the local market should a domestic shortage occur in Japan.