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ECONOMY > Energy

Cargo owners look for alternative sources of crude oil other than Saudi Arabia

  • September 26, 2019
  • , Nikkei , p. 17
  • JMH Translation

At a regular press conference held on Sept. 25, Japanese Shipowners’ Association President Tadaaki Naito (president of NYK Line) revealed that “there are moves (among cargo owners) to shift their procurement of crude oil from Saudi Arabia” following the recent attacks on oil facilities in Saudi Arabia. He reportedly noted that the cargo owners are looking to the U.S. with its shale oil and West Africa as alternative procurement sources. 

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