Japan’s March Russian fuel oil imports almost double

Japan’s imports of Russian fuel oil nearly doubled in March versus the previous month as some refiners turn to cheaper alternative feedstocks due to record-high oil prices, official data showed on Monday.

The world’s third-largest oil consumer imported a total 275,803 tonnes of the distillate-rich Russian fuel oil (M100), up 135,803 tonnes from February’s imports, and the highest in at least 16 months, data from Japan’s Ministry of Finance showed.
Exxon Mobil’s Japan affiliate TonenGeneral Sekiyu and Kyokuto Petroleum Industries, a joint venture with Mitsubishi & Co, have for several months been running Russian straight-run fuel oil, to save on feedstock costs and to help boost margins, trading sources in Asia said.

But the imports of Russian fuel oil still make up a small proportion of Japan’s total crude oil imports.

Guardian