Japan offers to sell Khafji crude from govt stocks

TOKYO: Japan has offered to sell 90,000 kilolitres, or about 566,000 barrels, of Khafji crude from the shared Neutral Zone between Saudi Arabia and Kuwait from government stocks in southern Japan, a tender document from the trade ministry showed on Friday.

Bids for the cargo, which is scheduled to be loaded between Sept 21 and Oct 20, are slated to be opened on July 20, the document from Ministry of Economy, Trade and Industry showed.

Japan has sold several million barrels of crude from its national reserves in a series of tenders this year in order to clear space for 3.8 million barrels of Saudi crude set to start arriving in the Pacific nation later this year.