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Japanese oil refiners temporarily halt Iranian loadings on sanctions threat - Mr Tsukioka

Gasoil News - Published on Fri, 21 Sep 2018

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Reuters cited Mr Takashi Tsukioka, the President of the Petroleum Association of Japan (PAJ) as saying that Japanese oil refiners have temporarily halted Iranian oil loadings ahead of US sanctions and are buying alternatives as it remains unclear whether Japan will receive an exemption. The United States has demanded that nations cut all their Iranian oil imports when sanctions on the country's petroleum sector over Tehran's nuclear programme are re-imposed on November 4.

Mr Tsukioka, said when asked if Japanese refiners plan to halt Iranian loadings from October "It is my view that each firm is taking the same stance and temporarily suspending (the loading) and watching the situation carefully."

Mr Tsukioka, who also serves as chairman of refiner Idemitsu Kosan, however, did not comment on the details of each refiner's reaction.

Many refiners in Japan, the world's fourth-biggest oil consumer, say they are resigned to completely halting imports from one of their historically important suppliers, unlike during a previous round of sanctions when they only reduced imports from Iran.

He said that Iran is an important supplier of oil to Japan, accounting for about 5 percent of its crude imports, and Japanese refiners, together with the government, will try to maintain its good relationship with the Middle Eastern country, adding that the US sanctions will not cause a major impact.

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Posted By : Nanda Koijam on Fri, 21 Sep 2018
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