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Home›Commodities›Energy›JERA creates oil storage firm to run Japan’s national…

JERA creates oil storage firm to run Japan’s national stockpile sites

JERA said it formed JERA Oil Storage to handle operations for the petroleum stockpiling bases JERA already runs, citing disruptions in oil procurement tied to the Middle East crisis.

Reported · Written up by our desk · Energy

Japanese energy company JERA is creating a dedicated oil storage company to exclusively manage the operation of the national petroleum stockpiling bases it currently runs, according to OilPrice.

JERA Oil Storage was established as an operating company focused on day to day management of those stockpiling sites.

The company linked the move to how the Middle East crisis has upended the oil procurement market for Japan, a resource poor G7 economy.

OilPrice reported the initiative as part of JERA’s effort to consolidate and administer storage operations under a standalone entity.

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Sources

OilPriceJapan’s JERA Creates Oil Storage Firm to Manage National Reserve Sites

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