Japan approves draft revision to oil-stockpiling act

TOKYO - The Japanese Cabinet on Friday approved a draft revision to the Petroleum Reserve Law to make oil wholesalers set up disaster countermeasures to ensure supply of gasoline and other fuel to disaster-hit areas in times of crisis.

The move aims to prevent a recurrence of the severe gasoline shortage after the March quake and tsunami disaster in some parts of Japan.

The revision to the law added that oil distributors come up with joint plans to cooperate with each other in accommodating oil refineries and tank trucks.

Oil distributors should also compile disaster plans by the end of fiscal 2012 in each of the 10 regions to be designated by the government, according to the revision.

Use of the nation's oil stockpile in times of disaster is also planned to be allowed by the government. The stockpile was previously prepared in case of a disruption in oil supply from overseas.