Fisher Capital Management Latest News: Japan Says Currently Importing 4.2 Million Barrels Per Day Of Oil

http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/168112/t/Japan-says-currently-importing-4.2-million-barrels-per-day-of-oil/Default.aspx

Okada, Asian Oil Officials In Kuwait For Meeting

KUWAIT CITY, April 17, (Agencies): Japan is currently importing 4.2 million barrels per day of oil but demand should pick up as it works to restore its economy after last month’s devastating earthquake and tsunami, a deputy minister said on Sunday.
“I think so, because we lost a lot of electricity supply capacity but at the same time Japan needs a lot of energy in order to restore our economy,” said Hideichi Okada, vice minister for international affairs at Japan’s economy, trade and industry ministry.
“Japan’s economic growth rate will decrease to some extent, which means out (oil) demand will slow down for a a certain period then demand will go up again.”
Okada told reporters Tokyo had received a number of offers of additional supplies of liquefied natural gas (LNG) from producers in the Gulf region to help the country cope with the loss of power supplies from its stricken Fukushima Daiichi nuclear plant.
Okada was in Kuwait for a biennual meeting of Asian countries and Middle Eastern energy producers.
Asian oil ministers and officials started arriving in Kuwait to take part in the 4th Asian Ministerial Energy Roundtable Meeting, scheduled to kick off Monday.

Deputy oil ministers of Vietnam and South Korea, Energy Minister of Sultanate Brunei Pehin Yasmin and a senior official at Philippines Energy Ministry arrived earlier in the day.
Qatari and Iranian oil ministers are also expected to arrive in the coming hours to participate in the meeting.
The meeting will kick off Monday with the participation of 30 bodies, including a number of international organizations concerned with oil, gas and energy, such as the Organization of Petroleum Exporting Countries (OPEC) and the International Energy Forum, to consider formulating a united vision on the future of the oil industry.
Delegations would also discuss the trajectory of oil prices, ways of cooperation, problems and challenges facing the industry.
The round-table meeting is held once every two years in one of the Asian oil countries. It was hosted first time in India 2005 then by Saudi Arabia in 2007 and then was held in Japan in 2009.