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Japan should diversify oil sources but Canadian supply seen tough, industry association head says
Yahoo Financeยท 2025-09-18 09:28
Group 1 - Japanese oil refiners are advised to diversify their supply sources as 95% of crude imports currently come from the Middle East [1] - The head of the Petroleum Association of Japan (PAJ) highlighted the challenges of importing Canadian oil due to its heavy characteristics [4] - Alberta's government is exploring a financial investment in Japan's refining sector to reduce its dependence on the United States for oil exports [2][3] Group 2 - Alberta is in early discussions with Japanese refiners for a joint venture to fund the construction of a coker unit for processing heavy crude from Alberta's oil sands [3] - The president of PAJ expressed skepticism about investing in new facilities due to a 2% annual decline in domestic oil demand [4] - The decision to diversify and invest ultimately rests with individual Japanese companies [4]