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Japan's JOGMEC buys Das crude for reserves-sources
October 20, 2015 / 10:24 AM / 2 years ago

Japan's JOGMEC buys Das crude for reserves-sources

TOKYO, Oct 20 (Reuters) - State-run Japan Oil, Gas and Metals National Corp (JOGMEC) on Monday bought about 2.52 million barrels (400,000 kilolitres) of Abu Dhabi Das crude via tender for the government’s Strategic Petroleum Reserves, industry sources said on Tuesday.

JOGMEC was seeking four sets of 630,000-barrel light crude, which are to be delivered to two government stockpiling bases in Tomakomai City in Hokkaido, northern Japan, by Feb. 24, 2016.

Sources said JX Nippon Oil & Energy Corp and Mitsubishi Corp were awarded the tender. One of them said both firms may have been awarded two sets of 630,000-barrels each.

A Mitsubishi Corp spokesman declined to comment, citing a confidentiality agreement. JX Nippon Oil & Energy declined to comment. The trade ministry official on Monday said JOGMEC bought the barrels but declined to comment on the crude grades or the prices.

The tender comes after Japan in June sold a total 4.15 million barrels of crude from the government’s Strategic Petroleum Reserves as part of a plan to replace the oil with other grades. (Reporting by Osamu Tsukimori; Editing by Sunil Nair)

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