Iran General NewsJapan to extend cuts in Iran oil imports in...

Japan to extend cuts in Iran oil imports in 2013, JX chief cays

-

Bloomberg: Japan will import fewer than 160,000 barrels a day of oil from Iran next year to avoid sanctions aimed at the Middle Eastern country’s nuclear program, the head of Japan’s oil industry group said. Bloomberg

By Jacob Adelman & Yuji Okada

Japan will import fewer than 160,000 barrels a day of oil from Iran next year to avoid sanctions aimed at the Middle Eastern country’s nuclear program, the head of Japan’s oil industry group said.

JX Nippon Oil & Energy Corp., the country’s biggest refiner, will cut its imports from the current contract of about 80,000 barrels a day, Kimura Yasushi, who serves as chairman for both JX and the Petroleum Association of Japan, said at a press conference today.

Secretary of State Hillary Clinton in March exempted Japan from sanctions on banks doing business with Iran because of the Asian country’s steps to reduce imports from the Persian Gulf nation. The waiver was renewed in September for a second six- month term for Japan, which was the world’s biggest importer of Iranian crude after in China in the first half of 2011, according to the U.S. Department of Energy.

Imports from Iran averaged 190,000 barrels a day from January to October, 40 percent less than the same period last year, and fell to 160,000 barrels a day in October, Kimura said.

“Maintaining that 160,000 barrels a day as a ceiling, refiners will look into reducing more, as JX cuts its own imports,” said Kimura, who declined to comment on how much purchases would be cut. “We will tackle this while keeping a close eye on the U.S.’s policy on Iran.”

U.S. and European Union officials say Iran’s nuclear development is aimed at producing atomic weapons, while the government in Tehran says the project is for civilian purposes.

Latest news

Iran Expats Call for UN Investigation of 1988 Massacre

Iranian expatriates have written United Nations Secretary-General Antonio Guterres to once again urge the international organisation to investigate the...

Nearly 70m Iranians Can’t Afford Rice

Nearly 70 million people in Iran cannot afford rice following price increases, according to the secretary of the Rice...

The Confusing Clutter of the JCPOA and Iran’s Hasty Begging

For the Iranian government and its officials, the Vienna negotiations about a new Joint Comprehensive Plan of Action (JCPOA),...

April Human Rights Report for Iran

At the end of every month, Iran Human Rights Monitor puts together a report on the human rights situation...

Iranian Government Versus Working Class

The Iranian government is built on the suppression of the working class, so its legitimacy must be measured by...

New Uprising in Iran?

Protests are increasing in size and scale in Iran, leading many in the ruling system and in the opposition...

Must read

Iranian Kurd refugees leave for Sweden; hundreds remain in no man’s land

UN High Commissioner for Refugees: For more than a...

EU says no agreement on new Iran sanctions

Reuters: The European Union said on Monday it had...

You might also likeRELATED
Recommended to you