PARIS - Tokyo has won a commitment from the United Arab Emirates to increase joint crude oil stockpiles held in Japan by UAE companies, according to Economy, Trade and Industry Minister Ryosei Akazawa on Tuesday.Akazawa said he made the request to expand the oil stockpiles in a meeting in Abu Dhabi on Tuesday with his UAE counterpart, Sultan Al Jaber, who is also special envoy to Japan.They agreed to promote cooperation to ensure a stable supply of crude oil as the Strait of Hormuz, a key energy transportation hub, remains closed due to the deteriorating situation in the Middle East.
Japan to boost joint oil stockpiles with UAE
PARIS - Tokyo has won a commitment from the United Arab Emirates to increase joint crude oil stockpiles held in Japan by UAE companies, according to Economy, Trade and Industry Minister Ryosei Akazawa on Tuesday.Akazawa said he made the request to expand the oil stockpiles in a meeting in Abu Dhabi
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