JERA Sets Up Dedicated Oil Storage Business Amid Middle East Crisis

JERA Co., Inc. has announced the creation of JERA Oil Storage, a dedicated oil storage business that will manage Japan's petroleum stockpile bases.

The move comes in response to disruptions caused by the Middle East crisis, which has led to Japan rushing to obtain crude oil from other sources due to its reliance on imports through the Strait of Hormuz.

As a result, JERA Oil Storage will oversee four national petroleum stockpiling sites across Japan, located at Tomakomai-Tobu, Akita, Fukui, and Shibushi. The new structure aims to strengthen safe and stable operations while facilitating the handover and development of operational know-how.