Abu Dhabi Crude to Top Up Japan's SPR

State-run Japan Oil, Gas and Metals National Corp (JOGMEC) bought about 1.26 million barrels (200,000 kilolitres) of Abu Dhabi Das crude from Itochu Corp for the government's Strategic Petroleum Reserves, two industry sources said on Thursday.

JOGMEC had been seeking 1.26 million barrels of Middle Eastern light crude, with shipments to be delivered to the Shibushi national oil storage base in Kagoshima, southern Japan, operated by a wholly-owned unit of JX Nippon Oil & Energy Corp , between Jan. 25 and March 5.

The purchase partially replenishes stockpiles after Japan in August sold about 1.89 million barrels of medium sour Mexican crude and is not related to any emergency release coordinated by the International Energy Agency.

A JOGMEC official declined to comment on the number of sellers or crude grades. JOGMEC revised down the volumes sought from the initial 1.89 million barrels last week.

An Itochu spokesman declined to comment on whether it was involved in the deal.

Japan has been trying since at least 2001 to increase the amount of light crude grades that have a higher yield of gasoline and kerosene than heavy grades in national inventories to reflect the nation's changing petroleum import preferences.

The government aims to drastically cut heavy crude stockpiles in its national Strategic Petroleum Reserves, replacing them with light grades over the next five years to deal with unexpected suspensions of oil imports, a trade ministry official said.

Reporting by Osamu Tsukimori and Florence Tan