Japan to receive first Mexican crude cargo since start of Iran war

Japan is preparing to receive its first shipment of Mexican crude oil, a move that provides a crucial alternative to supplies from the Middle East. The tanker, carrying oil for Cosmo Oil, a unit of Cosmo Energy, is expected to dock at the Yokkaichi refinery in central Japan as early as Friday, before continuing to the Chiba refinery near Tokyo.

This delivery signifies a significant shift in Japan's energy sourcing strategy, marking the first arrival of Mexican crude since the conflict involving Iran escalated in late February. The journey for this particular cargo began in the Gulf of Mexico, with the tanker navigating around the Cape of Good Hope at Africa's southern tip.

The enhanced energy cooperation between Japan and Mexico was solidified in April. During a telephone conversation, Japanese Prime Minister Sanae Takaichi and Mexican President Claudia Sheinbaum agreed to bolster their energy ties, acknowledging the disruption to global oil and gas supplies caused by the ongoing conflict.