Japan's Eneos Purchases Rare Canadian Crude Cargo to Diversify from Middle East
Japan's largest refiner, Eneos, has purchased a rare cargo of Canadian crude oil, marking the first such shipment to a Japanese company since 2025, according to ship-tracking data from Kpler and LSEG. The 750,000-barrel cargo was loaded on an Aframax tanker and sold by Exxon. The purchase reflects Japan's ongoing efforts to diversify its crude oil sources away from the Middle East, which previously supplied over 90% of its crude. The oil was transported via the Trans Mountain pipeline (TMX) to the coast of British Columbia, which has been operating at double its capacity of 890,000 barrels per day since 2024. Analysts note that Canada's role in Asia's import strategy is growing, with India, Malaysia, and Singapore also buying TMX crude. Trans Mountain Corp. has announced plans to further boost pipeline capacity to 1.2 million barrels daily due to strong Asian demand.
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