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Latest News

JOGMEC does not award another tender for 1.9 mln bbls

Japan buys Saudi crude from -sources

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October 21, 2010 1:29 by



State-run Japan Oil, Gas and Metals National Corp (JOGMEC) has bought 100,000 kilolitres of Saudi Arab Extra Light crude for Japan’s national reserves from refiner Showa Shell Sekiyu via tender, industry sources said on Thursday.

A JOGMEC official confirmed that it bought 100,000 kl (about 630,000 barrels) of Middle East light crude after two firms submitted their bids but declined to comment on the grade or the seller.

The official added that JOGMEC did not award another tender to buy 1.9 million barrels of Middle East light crude and scrapped plans to rent a storage facility for it, although it received one bid.

Showa Shell, one-third owned by Royal Dutch Shell and nearly 15 percent owned by Saudi Aramco, did not immediately issue a comment.

(Reporting by Osamu Tsukimori, editing by Jane Baird)



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