Takahiro Yamamoto, President & CEO of Taiyo Oil says oil price increase and supply disruption could have material impact on its business given 30-40% of its crude import comes from the Middle East region.

Tokyo

Taiyo Oil, a Japanese refinery, has shifted a significant portion of its crude oil sourcing away from the Middle East, now obtaining only 30-40% of its imports from the region compared to the national average of over 90%. The company's president, Takahiro Yamamoto, noted that this diversification to sources in the U.S., Southeast Asia, and other regions helps limit the impact of potential supply disruptions and rising oil prices.

Despite this reduced dependence, Yamamoto emphasized that supply issues and price increases in the Middle East remain a major concern for the business. Taiyo Oil's diversified portfolio now includes crude from the U.S., Malaysia, Brunei, Vietnam, and other Asian suppliers, positioning the company to better withstand market volatility.

Japanese refinery Taiyo Oil shifts crude purchases to U.S. and Asia

Our refinery is a little bit unique compared with other refineries in Japan or other regions, I guess. It means more than 90 percent of crude oil comes from the Middle East to Japan. But in our case, about 30 or 40 percent comes from the Middle East. So if we compare with other refineries in Japan, the impact is a bit limited. But obviously, if something happens in the Middle East area, the crude oil amount which we can access is limited. Obviously, the oil price is getting high on peak, right? So I don't say the impact is limited. It's a huge concern we have. But in terms of the crude oil sourcing, again, our portfolio of crude oil has already shifted to the U.S., some percent of the total amount. And recently, we purchased a little bit of the crude oil from the cyclone as well. And also, historically, we are taking from Southeast Asia, like Petronas, Malaysia, and also the Brunei Darussalam and the Vietnam or other regions. So I think we could somehow survive.

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Kyiv

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Jerusalem

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