Saudi Aramco’s lease of 13 crude oil storage tanks with capacity of 1.3mn m³ (820,000 barrels) at Okinawa, Japan, has been extended by three years. Japan’s state-owned JOGMEC renewed Aramco’s lease on 9 December, following talks on 23 October.

Aramco has leased the facilities since 2010. Attacks this year on tankers in the Gulf and on key Saudi oil facilities (MEES, 20 September) have highlighted the importance of such overseas storage facilities for Aramco’s ability to continue supplying its clients. At Okinawa, “in an emergency, Japan would be provided with this oil preferentially.” Aramco also stores crude at facilities in Egypt, Netherlands and Fujairah. (CONTINUED - 102 WORDS)