Mexico to export 1 million barrels of oil to Japan: Mexican president
Mexico will export 1 million barrels of oil to Japan, its President Claudia Sheinbaum said Thursday, following a request from Tokyo amid uncertainty over energy supplies from the conflict-hit Middle East, Kyodo reports.
Sheinbaum did not specify a time frame for the exports. The decision came after she and Japanese Prime Minister Sanae Takaichi agreed to boost cooperation to ensure stable energy supplies during phone talks held earlier in the week.
The outbreak of the U.S.-Israeli war against Iran in late February has prompted Japan, a resource-poor nation dependent on the Middle East for more than 90 percent of its crude oil imports, to explore ways to diversify suppliers and shipping routes.
In addition to oil, Mexico also has abundant mineral resources such as copper and zinc.
Last week, the Japanese government said it will provide a total of $10 billion in financial support to other Asian nations to help them secure crude oil supplies as prices soar amid the Middle East conflict, aiming to ensure that petroleum-derived products made in those countries keep flowing into Japan.
