JOGMEC and Aramco renew crude oil storage agreement

Japan Organisation for Metals and Energy Security (JOGMEC) has announced that their crude oil storage, throughput, and tank lease agreement with petroleum and gas company, Aramco, has been renewed. This joint project began in 2010 and has been renewed every three years.

Under the agreement, JOGMEC leases 13 national crude oil stockpiling tanks at the Okinawa CTS corporation base located in Asia, to Aramco. It enables Aramco to stock approximately 1,300,000 kilolitres of crude oil for the next three years.

JOGMEC and Aramco strengthen their cooperation and aspire to contribute to energy security in Japan and a more stable supply in the related region.