Japan Crude Cocktail
Encyclopedia
The Japan Customs-cleared Crude (JCC) is the average price of customs
-cleared crude oil imports into Japan
(formerly the average of the top twenty crude oils by volume) as reported in customs statistics; nicknamed the "Japanese Crude Cocktail".
It is a commonly used index in long term LNG contracts in Japan, Korea
and Taiwan
, and replaced the Government Selling Price of crude oil as the standard index.
The data to calculate JCC is published by the Japanese government every month. This is the raw and crude oil import prices in yen per kilolitre, the dollar yen exchange rate and the total Japanese imports of all commodities for the month.
JCC prices are available from the Petroleum Association of Japan
.
Customs
Customs is an authority or agency in a country responsible for collecting and safeguarding customs duties and for controlling the flow of goods including animals, transports, personal effects and hazardous items in and out of a country...
-cleared crude oil imports into Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
(formerly the average of the top twenty crude oils by volume) as reported in customs statistics; nicknamed the "Japanese Crude Cocktail".
It is a commonly used index in long term LNG contracts in Japan, Korea
Korea
Korea ) is an East Asian geographic region that is currently divided into two separate sovereign states — North Korea and South Korea. Located on the Korean Peninsula, Korea is bordered by the People's Republic of China to the northwest, Russia to the northeast, and is separated from Japan to the...
and Taiwan
Taiwan
Taiwan , also known, especially in the past, as Formosa , is the largest island of the same-named island group of East Asia in the western Pacific Ocean and located off the southeastern coast of mainland China. The island forms over 99% of the current territory of the Republic of China following...
, and replaced the Government Selling Price of crude oil as the standard index.
The data to calculate JCC is published by the Japanese government every month. This is the raw and crude oil import prices in yen per kilolitre, the dollar yen exchange rate and the total Japanese imports of all commodities for the month.
JCC prices are available from the Petroleum Association of Japan
Petroleum Association of Japan
The is composed of 18 refiners and primary distributors in Japan. It was incorporated in November 1955. It deals with the refining and marketing of petroleum products...
.