Oil & Gas

22 Mar 2022

Japans' ENEOS Has No Plans to Sign Russian Crude Import Deals Following Invasion: Chairman

22 Mar 2022  by   
Japan's largest refiner ENEOS does not plan to sign any Russian crude oil import contracts following Russia's invasion of Ukraine, ENEOS Holdings Chairman Tsutomu Sugimori said March 22.

"Following the Ukraine invasion, we have not signed any contracts [for Russian crude]," Sugimori told an online press conference as the president of the Petroleum Association of Japan. "We do not expect to import [Russian crude] for the moment."

ENEOS, however, will receive a few ships carrying Russian crude cargoes until April from its purchase contracts signed prior to the invasion in February, Sugimori said.

"Until April, we will receive a few ships under contracts signed prior to the start of the Ukraine invasion in February," Sugimori said. "For these [cargoes] we have secured ships, and we will be able to make our payments."

Russia supplied 4% of Japan's total crude oil imports of 2.48 million b/d in 2021, according to finance ministry data.


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