AsianOil: Japanese firms sees 3% climb in domestic, overseas output in 2023-24

Japanese companies’ combined oil and gas production – both domestic and overseas – climbed by nearly 3% in the fiscal year ending March 31, the country’s ministry of trade and industry reported on September 3.

Output averaged 1.625mn barrels of oil equivalent per day during the year, up from 1.587mn boepd in the previous 12-month period, but down from 1.753mn boepd in the year before that. 

The growth was primarily the result of LNG projects internationally, the ministry said, without providing further details. Japanese firms Jera and Osaka Gas notably have interests in the 15mn tonne per year (tpy) Freeport LNG terminal in Texas, which resumed normal operations in February 2023 after shutting down because of a fire in June 2022.

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