Shunichi Kito, President of the Japan Petroleum Association, stated the possibility of oil companies in his country resorting to using Japan's oil reserves in an emergency if the ongoing escalation of tension in the Middle East affects their purchases of crude oil. This is to ensure the stability of oil supplies.

When Kito was asked in a press conference on Wednesday about the impact of Iran’s attack on Israel, he stated that there are currently no obstacles to Japan’s purchase of crude oil.

He added that the conflict would constitute a danger if it escalated more widely in the Middle East, and explained the importance of being prepared in the event of any disruption in crude oil supplies, through the flexible use of oil reserves to ensure uninterrupted supplies, explaining that the public and private sectors in Japan possess oil reserves sufficient for 240 days.

Japan imports more than 95% of its oil needs from the Middle East. As it depends mainly on it for crude oil.

Kito, who is also president of Idemitsu Kosan, which is the second largest oil refining company in Japan, indicated that the company is examining the possibility of replacing some supplies from the Middle East with other sources. He stated that they are studying importing crude from West Africa and North America as alternative sources, if it can be transported and processed smoothly in the company’s refineries.

But Kitto mentioned that most Japanese refineries are designed to process crude oil from the Middle East; Therefore, switching to new supplies will not be easy because they may not be compatible with the nature of their facilities.