HIGHLIGHTS
- Two Japanese top oil refiners have stopped importing crude from Russia.
- Tohoku Electric tender specifically bans Russian loading ports.
FULL ARTICLE
Japanese top oil refiners stop importing Russian crude
According to Idemitsu’s spokesperson, this company has stopped buying Russian crude because of “concerns about interruptions in logistics and payment.”
“Russian crude accounts for about 4% in the total amount of imported oil of the company from April to November, 2021. We will not have problems with supply sources”, Idemitsu’s representatives said.
In addition, chairperson of Eneos, Tsutomu Sugimori, said this company had stopped signing new contracts with Russian partners since this country conducted a special military campaign in Ukraine.
The move of Eneos Holdings and Idemitsu Kosan is the latest in a broader retreat as energy giants across the world slash their dependence on Russian fuels.
Tohoku Electric is shutting out Russian LNG from its tender
Tohoku Electric Power Co. released a tender to purchase a shipment of liquefied natural gas with a clause requesting that the cargo not come from Russia.
While most Asian LNG importers have paused buying spot cargoes from Russia since the war in Ukraine began, traders until now haven’t seen a purchase tender that has been so specific in avoiding the country.
The move will likely be repeated by buyers across the region, tightening available natural gas supplies just as the market is grappling with a shortage and sky-high prices.
Tohoku Electric is shutting out Russian LNG from its tender as it isn’t sure if those shipments may be slapped with sanctions in the future as the war drags on. So far, a global effort to sanction Russia has largely avoided its energy exports.
Minh Hong
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