Japan's January-August Iranian crude imports up 25.8% y/y

October 14, 2016

Japan's Iranian crude imports rose 25.8 percent to 216,101 bpd in January-August from the same period a year ago after economic sanctions targeting Tehran's disputed nuclear program were lifted in January, the trade ministry data showed.

The country’s oil refiner Showa Shell Sekiyu bought 55 percent of Japan's crude imports from Iran in January-June, said Chief Executive Officer Tsuyoshi Kameoka.

Japan imported 205,871 barrels per day (bpd) of Iranian oil in the first half of 2016, trade ministry data showed, meaning Showa Shell's imports during the period would be around 113,000 bpd.

Kameoka made the comment late on Thursday during a joint news conference with Idemitsu Kosan Co on the delay of a full takeover of Showa Shell.

(Source: Reuters)

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