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  • 15-01-20

    Three-year energy cooperation deal between UAE, Japan

    (MENAFN) In Japanese Prime Minister Shinzo Abe's visit to UAE, an energy collaboration deal was signed between the United Arab Emirates' (UAE) Supreme Petroleum Council and Japan's Agency for Natural Resources and Energy.


    Over 8.1 million barrels of crude oil is now allowed to be stored by Abu Dhabi National Oil Company (ADNOC) in Japan's storage facilities and sold it to its customers on condition that specific quantities should be given to the Japanese market in the event of a shortage of oil supplies in Japan, according to the three-year oil storage agreement.


    The deal was signed by Sultan Al Jaber, UAE's Minister of State and CEO of ADNOC Group, and Makihara Hideki, Japan's State Minister of Economy, Industry and Trade.

    MENAFN1501202000450000ID1099554453

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