Economy Minister Ryosei Akazawa visited the Shibushi oil reserve base in Kagoshima Prefecture on Sunday to verify the release of national crude oil reserves [1].
The inspection follows a strategic move to maintain energy stability amid fluctuating global markets. Ensuring a steady supply of petroleum is critical for Japan's industrial infrastructure, particularly as the government manages its strategic stockpiles to buffer against geopolitical shocks.
During the visit, Akazawa confirmed that approximately 1 million kiloliters of crude oil were released from the facility in March 2026 [1]. This release is part of a broader national strategy to manage oil levels across 10 different locations [4].
Akazawa said, "I want you to continue working to ensure a stable supply of oil while thoroughly maintaining safety management at the site" [1].
The minister also addressed the scale of the current operations. He said that the second phase of releases was smaller than the first, totaling about 20 days of supply [2]. This represents a decrease of 10 days compared to the previous release [2].
Akazawa said the reduced scale of the second release is due to the fact that alternative procurement is progressing smoothly [2]. He said that the national oil reserves are being sold based on prices established before changes in the Middle East situation [3].
The facility, referred to in some reports as the Kiire base and in others as the Shibushi National Oil Stockpiling Base [1, 3], serves as a primary hub for Japan's energy security. The government's focus remains on balancing the immediate need for market stability with the long-term necessity of maintaining a robust strategic reserve.
“Approximately 1 million kiloliters of crude oil were released from the facility in March 2026.”
The Japanese government's decision to release strategic reserves while simultaneously noting that alternative procurement is 'progressing smoothly' suggests a transition from emergency intervention to a more stabilized supply chain. By pricing these releases based on pre-crisis Middle East levels, the Ministry of Economy, Trade and Industry is attempting to mitigate the impact of price volatility on the domestic market without depleting reserves faster than they can be replenished.
