TOKYO, March 4 ― Japan will release 7.5 million barrels of oil from private reserves as a part of the International Energy Agency -led coordinated release, its industry minister Koichi Hagiuda said today.
Japan is gathering information about Exxon Mobil Corp's recent announcement to exit the Sakhalin-1 oil and gas project in which a Japanese consortium owns a 30 per cent stake to assess the impact on the country's energy supply.