Reuters: World News: Japan to seek stable oil supply from Saudi Arabia

Reuters: World News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Japan to seek stable oil supply from Saudi Arabia May 8th 2012, 02:02 TOKYO | Mon May 7, 2012 10:02pm EDT TOKYO (Reuters) - Japan's Trade Minister Yukio Edano said on Tuesday he would ask for Saudi Arabia's continued support to help Japan secure a stable oil supply when he meets with Saudi Oil Minister Ali al-Naimi later in the day. "In general, Saudi Arabia has provided the greatest cooperation over many years in regards to a stable crude oil supply. I want to thank him for that and ask for continued cooperation," Edano told a news conference. Japan has cut its crude imports from Iran amid tighter Western sanctions aimed at limiting Tehran's nuclear program. Edano also said that Japan is in touch with the European Union on insurance coverage for Iranian oil shipments. The EU's restrictions on Iran are due to take effect in July. The Trade Minister, who holds the energy portfolio, also said that power supply outlook for this summer in Japan's western region of Kansai looks tough but repeated that he hoped to avoid issuing a mandatory power restriction order.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions