KUWAIT CITY: Oil-rich Kuwait said Monday it will donate five million barrels of oil worth over 550 million dollars at current prices to Japan as an expression of solidarity with the earthquake and tsunami struck nation.
"To show our solidarity with Japan the council of ministers has decided to contribute five million barrels of crude or products to Japan," Oil Minister Sheikh Ahmad Abdullah Al-Sabah said.
His announcement came at the start of a roundtable meeting of Asian energy ministers to discuss the situation in the oil market and recent spikes in crude prices.
The minister did not say when the delivery will be made. The donation is larger than Japan's 4.2 million barrels of daily import.
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