Mitsubishi halts oil exports

Mitsubishi halts oil exports

TOKYO (Nikkei) : Concerned over a possible oil shortage in
Japan, Nippon Mitsubishi Oil Corp. recently halted exports to
other Asian countries and the U.S., company sources said Friday,
the Nihon Keizai Shimbun reported.

The company sees stable domestic oil supply as paramount at a
time when the U.S. is likely to take retaliatory measures in
response to Tuesday's terrorist attacks on New York and
Washington, the sources said.

Last month, Nippon Mitsubishi Oil exported 130,000 kiloliter
of oil, including kerosene, jet fuel and gasoline, or 2-3 percent
of its monthly domestic production.

A U.S. attack is likely to be launched against countries in
and around the Middle East, a major source of crude oil to Japan.
A Nippon Mitsubishi source said the company will monitor the
situation to decide when to lift the suspension.

Idemitsu Kosan Co., another oil wholesaler, is considering
taking similar actions.

The company exports between 50,000 and 60,000 kiloliter of oil
each month to other Asian countries and Australia.