Japan’s Idemitsu Kosan to supply around 4 million barrels of oil to Vietnam

Japanese oil refining company Idemitsu Kosan Co. will supply approximately 4 million barrels of crude oil to Vietnam at the request of the Japanese government, Japan Today reports, citing sources familiar with the matter.

According to the sources, Vietnam—like several Southeast Asian countries—relies heavily on energy imports from the Middle East. However, supply routes have been disrupted after the Strait of Hormuz became significantly restricted amid US and Israeli strikes on Iran.

The Japanese request for supplies was made ahead of Prime Minister Sanae Takaichi's upcoming visit to Vietnam in early May. 

During the trip, the two sides are expected to discuss energy security and the resilience of supply chains.

The Japanese oil company purchased oil from the Middle East using alternative shipping routes that do not pass through the Strait of Hormuz.

Earlier in March, Philippine authorities also reported purchasing 142,000 barrels of diesel fuel from Japan as part of similar efforts to stabilise energy supplies in the region.

By Jeyhun Aghazada