00:00Japan will begin releasing oil from joint stockpiles by the end of March
00:04as part of the country's plan to stabilise domestic energy availability,
00:09according to Prime Minister Senai Takaichi.
00:11Around 13 million barrels are jointly stored in Japan by Saudi Arabia,
00:17the United Arab Emirates and Kuwait,
00:18representing approximately seven days of national consumption.
00:24The decision comes in response to the ongoing Iran war,
00:27which has disrupted vital oil and natural gas shipments from the Middle East.
00:32Last week, Japan started releasing private sector oil inventories,
00:36equivalent to 15 days of supply,
00:38marking the first phase of its emergency response measures.
00:42From Thursday, authorities will also begin drawing on state reserves,
00:45adding a further month's supply.
00:48In total, Japan's contribution to the International Energy Agency's coordinated release
00:53is expected to reach nearly 80 million barrels,
00:55mostly consisting of crude oil.
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