Japanese refiner Taiyo Oil has increased oil imports from the United States to 60 per cent of its purchases, after the Iran war largely cut off imports from the Gulf, Taiyo’s main oil source before the Middle East conflict, a company official said, Reuters reports.
“We now import 60pc oil from the US, earlier we used to import 40pc,” Takahiro Yamamoto, president and chief executive officer of Taiyo Oil, told Reuters on the sidelines of the APPEC industry conference in Singapore.
