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Page added on May 31, 2006

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Pouring oil on troubled waters

Japan should aim to increase the proportion of crude oil supplies that it controls from 15 per cent to 40 per cent by 2030, according to a draft national energy strategy floated this week by government officials.

This ambitious target, if adopted, promises an intensification of competition for oil resources, particularly with China and India, though the document also calls for Japan to reduce its the proportion of crude oil in its overall energy consumption from 50 per cent to 40 per cent.

Japanese petroleum companies will need to remain involved in Iran’s oil developments, despite mounting pressure from Washington to disinvest, and to win a large stake in Russia’s trans-Siberian pipeline and oilfield development.

The Australian

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