Japan to prepare for disasters by boosting oil stockpiling

As a result of the March earthquake and tsunami, which resulted in shortages of gasoline and heating oil in various areas, the Japanese government said it plans to increase its bases for stockpiling of crude oil and petroleum products to make the country more prepared for major disasters. The government plans to divide the country into six or seven regions, and several dozen facilities will be designated as oil-stockpiling points so that in case of a major disaster, each region would be able to meet its own demand for three to five days even if it is cut off from the rest of the country. One of the worst hit areas, the Miyagi Prefecture, will have Idemitsu Kosan Co.’s Shiogama oil depot as a designated stockpiling base. The other oil-stockpiling points will be decided by September next year. (October 8, 2011)