Japan secures enough petroleum-derived naphtha to last into 2027
Japan has secured enough petroleum-derived naphtha to last into 2027, with imports expected to triple in May as the country tries to address concerns about sufficient supplies of oil and oil-derived products.
Questions over possible shortages of naphtha — used for products ranging from medical supplies to cheap consumer goods to plastic foam, paint thinner and construction materials — have been rising due to the Iran war, which disrupted oil supplies from the Middle East.
“We had previously indicated that the supply of naphtha-derived chemical products would continue for more than six months,” Prime Minister Sanae Takaichi said in a government meeting about the situation in the Middle East Thursday evening.