Japan Oil: Middle East Dependence, Refining & Stockpiles
Japan consumes about 3.09 million barrels of petroleum per day (2025), #7 among the countries tracked here. Japan produces almost no crude of its own and buys more than 95% of its imports from the Middle East, so it is among the most exposed large economies to a Gulf disruption and one of the most heavily stockpiled.
Key Figures
| Measure | Value | As of / source |
|---|---|---|
| Petroleum consumption (#7 of tracked) | 3.09 Mb/d | 2025 · EIA |
| Middle East share of crude imports | More than 95% in the first half of 2025, about 2.3 million b/d; the UAE supplied roughly 44%, Saudi Arabia 40%, Kuwait 7% and Qatar 4% | S&P Global Commodity Insights, H1 2025 |
| Refining capacity | 19 refineries with about 3.1 million b/d of capacity; ENEOS runs nine of them (about 1.4 million b/d) | S&P Global / industry data, early 2025 |
| National stockpile | 10 national stockpiling bases in aboveground tanks, underground rock caverns and floating tanks, plus leased private tanks | JOGMEC |
| Why the mix is structural | Japanese refineries were built to process the medium and heavy sour crudes that Gulf producers export | Vortexa / ORF analysis |
Rankings and comparisons: world production & consumption · reserves by country · biggest oil companies.
Japan's Exposure and Its Buffers
Why diversification is slow
- Refineries are configured for Gulf crude grades, so switching to lighter Atlantic Basin barrels is possible only in part and at a cost.
- Japanese refiners have added US crude and other origins, but the Gulf share has stayed above 95% because supply from the region is large, close and matched to plant design.
Buffers and what to watch
- Government, industry and joint stocks together are among the largest reserves relative to consumption of any importer; see the physical storage methods in how oil is stored and the current volume on strategic reserves.
- Any disruption at the Strait of Hormuz hits Japan's crude supply directly, which is why stock releases and coordinated IEA action matter so much to Tokyo.
- Refinery consolidation: with domestic fuel demand in long-term decline, capacity has been shrinking and concentrating around a few large operators.
Oil Companies Operating in Japan
| Company | Type | Ownership |
|---|---|---|
| INPEX | Independent producer (public) | Listed, with Japan's Minister of Economy, Trade and Industry holding about 23.1% of the common shares (30 June 2025) plus the Class A golden share, which carries veto rights over directors, major asset sales and mergers. |
From the oil company directory: companies with material producing operations here or headquartered here, hand-curated from company filings.
Japan Oil FAQ
How much oil does Japan consume?
Japan consumes about 3.09 million barrels per day of petroleum and other liquids (2025), ranking #7 among the countries tracked here. Source: EIA international statistics.
Why does Japan buy so much Middle East crude?
Because it produces almost none itself and its refineries were designed for the medium and heavy sour crude that Gulf producers export. More than 95% of crude imports came from the Middle East in the first half of 2025, S&P Global reports.
Does Japan have its own oil reserves?
Not in meaningful volumes underground; Japan produces very little crude. It does hold one of the largest emergency stockpiles of any importer, split across government bases and industry-held stocks, as described by JOGMEC.
Which oil companies operate in Japan?
The oil company directory lists INPEX with producing operations in Japan. See the directory for who owns each company and which basins it works.