Japan Eyes Raising Oil Development Ratio to 40% by 2030

A government research committee on energy development has proposed that Japan raise the percentage ratio of independently developed crude oil against imports from the current 15 percent to 40 percent by 2030, industry ministry officials said Monday.

The panel, supervised by the Ministry of Economy, Trade and Industry, set the target in a final draft of a new national energy strategy, the officials said.

The strategy, to be finalized within a few days, is designed to find ways to strengthen the nation’s development of crude oil resources and reduce oil imports, the officials said.

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