Thursday , June 30 2022

Fuji Olew Japan is considering signing a new contract on Iran oil imports


TOKYO (Reuters) – Japan's oil company is considering whether a new contract for Iranian oil imports should be signed after Japan has exempted US penalties on Tehran, said the chief executive on Thursday, adding that Iran's oil Competitively against Other raw materials.

Fuji Oil is one of Iran's biggest oil users in Japan, accounting for about 30 percent of the crude that is set out in Sodhawra's refinery of 143,000 daybag (bpd) o April to September, said his president Atsu Shibota.

The company's officers did not reveal the exact amounts processed solely of the refinery and company, but an officer said that the refinery had fully implemented over the six months. But the proportion of Iranian oil fell by 36 per cent in the financial year ending March 31.

"We bought during the first six months (from the financial year), but we were supposed to buy throughout the year, so we put over the purchase," said Shibota during a six month profit announcement.

"We consider whether we will resume (procurement) taking into account the cost and quality of the raw, it is not clear whether we will proceed with the original contract or will we buy by agreement on apart. "

The US has issued exemptions to the main buyers of Iran, Japan, China, India, South Korea, Taiwan, Italy, Greece and Turkey, allowing them to import at least another oil for another 180 days.

Shibota said that the Japan government had not published any information on the amount of imports that should be allowed, adding that the company would want to keep a variety of options for buying oil even after the 180 day exemption.

A second official official said that Fuji Oil had previously bought Iran's crude through fixed-term contracts.

Japan joined South Korea in a temporary ban on Iran's oil leaps in mid-September.

Tokyo imported around 172,000 pounds of Iran's rough in 2017, down 24.2 percent of 2016, accounting for 5.3 percent of the total raw imports, according to data from the Ministry of Commerce.

Meanwhile, Yasuohiro Suzuki, chief executive of Cosmo Energy Holdings, told reporters on Thursday when the company's results were announced in six months that the government had notified its company of exemption and would consider whether to re-import oil import Iran.


Source link