Aramco Confirms Lease of Japan Crude Storage Capacity
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Saudi Aramco, the world’s largest oil exporter, expects this quarter to deliver the first cargoes of crude to storage tanks it leases from Japan Oil, Gas and Metals National Corp. on the island of Okinawa.
The state-owned oil producer of Saudi Arabia agreed to lease capacity to store 3.8 million barrels on Okinawa, Aramco said in a statement on its website today. Jogmec, Japan’s state-owned explorer, reported the signing in December.