Japanese refiners are stepping up their efforts to diversify their crude oil supply sources amid escalating tensions in the Middle East and the refiners may have to tap petroleum reserves in the event of crude supply disruption in the region, top company executives said Tuesday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The potential military conflict in the Middle East, following a recent US strike killing Iranian General Qassem Soleimani in Baghdad, is pressuring the refiners to accelerate their consideration for alternative crude supply sources. “It will be a vital situation if the Strait of Hormuz cannot be transmitted,” Tsutomu Sugimori, president of JXTG Holdings, told S&P Global Platts Tuesday, […]