TOKYO: Japan imported 62.54 million barrels of oil in June, of which the Arab share was 96.3 percent or 60.26 million barrels, according to figures released by the Agency of Natural Resources and Energy of Japan’s Ministry of Economy, Trade, and Industry.
Saudi Arabia and the UAE dominated Japan’s imports. The Saudi contribution was 25.82 million barrels, representing 41.3 percent of the total, while the UAE supplied almost the same percentage with 25.84 million barrels.
Five Arab countries – the UAE, Saudi Arabia, Kuwait, Qatar, Oman – as well as the Neutral Zone, made up most of the imports, underscoring the strategic importance of these nations in Japan’s energy security.
Kuwait contributed 5.21 million barrels (8.3 percent), followed by Qatar at 2.44 million barrels (3.9 percent). Oman supplied about half a million barrels or 0.8 percent of the total imports while the Neutral Zone’s share amounted to 0.7 percent.
With Japan continuing its ban on importing oil from Iran and Russia in June, the rest of the country’s oil imports were sourced from the United States (1.4 percent), Central and South America (1.6 percent), Southeast Asia (0.5 percent) and Oceania (0.2 percent).
Arab countries responsible for 96.3% of Japan’s oil imports in June
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Arab countries responsible for 96.3% of Japan’s oil imports in June
- Saudi Arabia and the UAE dominated Japan’s imports
- Kuwait contributed 5.21 million barrels (8.3 percent)
Work suspended on Riyadh’s massive Mukaab megaproject: Reuters
RIYADH: Saudi Arabia has suspended planned construction of a colossal cube-shaped skyscraper at the center of a downtown development in Riyadh while it reassesses the project's financing and feasibility, four people familiar with the matter said.
The Mukaab was planned as a 400-meter by 400-meter metal cube containing a dome with an AI-powered display, the largest on the planet, that visitors could observe from a more than 300-meter-tall ziggurat — or terraced structure —inside it.
Its future is now unclear, with work beyond soil excavation and pilings suspended, three of the people said. Development of the surrounding real estate is set to continue, five people familiar with the plans said.
The sources include people familiar with the project's development and people privy to internal deliberations at the PIF.
Officials from PIF, the Saudi government and the New Murabba project did not respond to Reuters requests for comment.
Real estate consultancy Knight Frank estimated the New Murabba district would cost about $50 billion — roughly equivalent to Jordan’s GDP — with projects commissioned so far valued at around $100 million.
Initial plans for the New Murabba district called for completion by 2030. It is now slated to be completed by 2040.
The development was intended to house 104,000 residential units and add SR180 billion to the Kingdom’s GDP, creating 334,000 direct and indirect jobs by 2030, the government had estimated previously.
(With Reuters)
