NEWS
Oil  

JXTG considering to resume Iran oil imports

The largest Japanese oil wholesaler, JXTG Holdings, is considering to resume Iran oil imports, Head of JXTG Yasushi Onoda told Japanese media ‘NHK’.

JXTG had temporarily suspended imports last month, Onoda said on Wednesday, according to IRNA.

According to NHK, the company is mulling whether Iranian crude oil is economically attractive enough to resume imports.

The important thing is for the company to be able to steadily supply petroleum products, he added.

In 2017, Japan bought 172,000 barrels of oil per day from Iran, which was equivalent to 5.3 percent of the country's need.

Tokyo also bought about 300,000 barrels of oil a day from Iran in 2011, after which its purchases decreased. 

After Washington's May 8 exit from the historic Iran Deal, the US gave 90- and 180-day wind-down periods to other countries before it starts re-imposing oil sanctions on Tehran on November 4.

Part of the US' illegitimate sanctions was imposed on Iran on August 9.

On Monday, Trump reinstated the US nuclear sanctions on Iran and imposed as he claimed “the highest level” of economic bans on the Islamic Republic of Iran.

This is while other signatories of Iran Deal condemned the US measure to withdraw from the Joint Comprehensive Plan of Action (JCPOA).

News No: 2542
Date: 2018/11/08 - 14:35
News Source: IRAN DAILY

JXTG  oil  Japan  JCPOA 

Comments:

Leave a Comment:

   
   
   
 

IEA: Shale Oil Not Here to Stay

US shale may be the darling of the oil industry now, but the boom is not going to last, according to the International Energy Agency.
 

Iran Abiding by JCPOA Terms, IAEA Says in New Report

Iran has been abiding by the terms of the 2015 nuclear deal between Tehran and world powers, the latest report from the UN atomic watchdog indicated Monday, days after fresh US sanctions hit the country.
 

Mahathir Discounts OPEC Clout

The Organization of the Petroleum Exporting Countries hasn't been effective in stabilizing oil prices, which have been more dependent on US shale production than the actions of the intergovernmental group, said Malaysian Prime Minister Mahathir Mohammad.
 

First US LNG Cargo Arrives in China After Tariffs Enacted

Aliquefied natural gas cargo from the United States has arrived in China, the first such cargo since Beijing imposed a tariff on US imports, shipping data from Refinitiv Eikon showed on Monday.
 

OPEC Trying to Maintain Oil Market Balance, Not Please Donald Trump

OPEC will not respond to US pressure to lower oil prices but will seek to maintain a balanced market, UAE energy minister Suhail al-Mazrouei said Tuesday, after President Donald Trump warned the organization on Twitter not to cut crude oil production.
 

First spooled bar coils for Japan and USA

Topy Industries Limited and Commercial Metals Company have now become the first Japanese and USA rebar producer to step ahead in the field of hot rolled compact coils
Upcoming Events
Find a Job !
Tenders
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners