“The cabinet decided to contribute five million barrels of oil and oil products to Japan,” KUNA quoted Sheikh Ahmad Al-Abdullah Al-Sabah as saying.
After its devastating earthquake in March, Japan has been expected to need additional oil imports as it rebuilds its shattered electricity grid. Traders see higher demand for diesel and fuel oil from the quake-hit country.
Kuwait is the world’s fourth-largest oil exporter and a major seller of oil products.
A senior Japanese official said on Sunday the country was currently importing 4.2 million barrels per day of oil and predicted the demand would rise.
The International Energy Agency said in its most recent monthly report that reconstruction and additional oil-fired power generation in Japan could boost the country’s oil demand by 30,000 bpd this year, although some analysts expect an even bigger increase.
Japan used 5.07 million bpd of oil in February according to the IEA.
In addition to oil supplies, the country is also receiving more than 60 cargoes of extra liquefied natural gas (LNG) from Qatar over the next 12 months to help generate power.
