Sunday, December 22, 2013

Japan's largest oil companies set to explore the Arctic

Japan's largest oil companies Inpex and JX Nippon Oil & Gas Exploration are getting ready to carry out geological exploration of the Arctic.
If they are successful, these companies will become the first Japanese corporations to produce oil in this region.

The geological survey will be carried out on the territory of Greenland.

For Japan, which has almost no natural resources of its own, exploration and production of oil in the Arctic will help the country to lower its dependency on other countries for energy resources.

At present, almost all the oil consumed in Japan is imported from other countries, with 80% of the imports from the Middle East alone.


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