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Sun 1 Jul 2007 02:34 PM

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UAE supplies 26% of Japan's oil

The country is second only to Saudi Arabia in supplying crude oil to Japan.

Japan received 26% of its total oil import from the UAE in May this year, making the Emirates second only to Saudi Arabia in supplying oil to the Asian nation.

Japan's Energy and Natural Resources Agency has said the country's oil exports from the UAE hit 28.49 million barrels in May, while Saudi Arabia exported 31.48 million barrels - 28.6% of the country's total oil import.

Total oil imports for Japan in May stood at 109.82 million barrels, with about 90% coming from Arab countries and Iran.

Qatar was Japan's third biggest oil supplier, with 11.8%, followed by Iran with 9.1%.

In 2006, the UAE's exports to increased by 25% to $31.6 billion, with $25.81 billion worth of crude oil making up more than 80% of the figure.

The UAE supplied 26.1% of Japan's crude oil imports last year, and was the country's fourth largest import market overall after China, America and Saudi Arabia.

Total trade between the two countries grew 28.9% to $37.64 billion in 2006 helped by high oil prices, the Japan External Trade Organisation (Jetro) said in a report.

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