Japan's JXTG resumes Iran oil imports
The largest Japanese oil wholesaler is considering to resume Iran oil imports, Head of JXTG Yasushi Onoda said.
According to IRNA,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.
The important thing is for the company to be able to steadily supply petroleum products, he added.
Tokyo also bought about 300,000 barrels of oil a day from Iran in 2011, after which its purchases decreased.
Iranian Petroleum Minister Bijan Namdar Zangeneh stressed on 16 October that if US lifts sanctions against Iran, then oil prices will decrease and the market will not be unstable anymore.
Oil rebounded towards $73 a barrel on Wednesday as second round of US sanctions removed under the 2015 nuclear deal, targeting the Iranian oil and financial sectors, reimposed on Monday.
According to Iran's ambassador to London, Hamid Baeidinejad, western institutions have, for the first time, admitted that with the new mechanisms employed by Iran regarding its oil sales, it has become impossible to track the country’s oil exports.
The United States has granted exemptions to eight countries — China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea — allowing them to continue buying Iranian oil, US Secretary of State Mike Pompeo said on Monday. Some of these are Iran's top customers. 102/202