No. 23

4 June 2001


Japan Issues Tender For October Purchase Of Light Crudes

Japan National Oil Corporation (JNOC) on 31 May issued a tender for the purchase of 300,000 kiloliters (1.887mn barrels) of light crude oil for lifting during October. The tender is the second to be issued under JNOCs 10-year program to replace 10mn kiloliters (62.9mn barrels) of heavy crude in Japans strategic reserves with lighter grades in order to match state inventories with refiners crude...