Japan to start additional 20 days' worth of oil release from May 1

TOKYO, April 24 (Xinhua) -- Japan will start an additional release of about 20 days' worth of oil reserves from May 1 amid uncertainty over the reopening of the Strait of Hormuz, local media reported.

The move follows an initial mid-March release of some 50 days' worth of oil from reserves held by the state, the private sector, and oil-producing Gulf countries, aimed at stabilizing energy supplies disrupted by the Middle East conflict.

The second release will free up 5.8 million kiloliters, worth 540 billion yen (about 3.4 billion U.S. dollars), Kyodo News reported.

The national reserves will be supplied from 10 storage bases across the country to four major oil wholesalers.

At the same time, Mexico will export 1 million barrels of oil to Japan following a request from Tokyo, according to the latest report by Kyodo News.

Resource-poor Japan relies on the Middle East for more than 90 percent of its crude oil imports, most of which transit through the Strait of Hormuz, a vital waterway for the world's oil supply. Enditem