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FINANCIAL NEWS
Kuwait oil exports to Japan drop 10.6%
01 May 2010
(MENAFN) Kuna reported that Kuwait’s crude oil exports to Japan fell 10.6 percent in March from a year earlier to 8.21 million barrels, or 265,000 barrels per day (bpd), for the fourth consecutive monthly drop.
Kuwait supplied 6.6 percent of nation’s crude oil in March, compared with 7.
8 percent in the same month of last year and 6.9 percent in February, the Japanese Natural Resources and Energy Agency, a unit of the Ministry of Economy, Trade and Industry, said in a preliminary report.
Japan is Kuwait’s largest oil buyer with accounting for 20 percent of its total crude exports.
Japan’s overall imports of crude oil in the reporting month rose 6.4 percent year-on-year to 125.12 million barrels (4.04 million bpd) for the first increase in two months. Shipments from the Middle East gained 5.0 percent to 111.20 million barrels (3.59 million bpd), and accounted for 88.9 percent of the total, down 1.2 percentage points from a year before.
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