Japan refiner renews oil import contract with Iran for 2013

JX chairman, Yasushi Kimura, was quoted by Platts weekly as revealing the development on Monday on the sidelines of a reception at the Petroleum Association of Japan organized in Tokyo to mark the New Year.

Import contracts of other Japanese refineries expire in March.

In December 2012, Japan imported nearly 6 million barrels of crude oil from Iran, up 10% from November.

Japan’s crude imports from Iran averaged around 194,000 barrels per day (bpd) in December, against 182,000 bpd in November.

December 2012 marked the latest volume of monthly oil imports from Iran since anti-Iran sanctions took effect in June the same year.

Japan along with China, India and South Korea represent the main Asian buyers of Iranian crude.

At the beginning of 2012, the United States and the European Union (EU) imposed new sanctions on Iran’s oil and financial sectors.

On October 15, the EU foreign ministers agreed on another round of sanctions against Iran.

The illegal US-engineered sanctions have been imposed based on the unfounded accusation that Iran is pursuing non-civilian objectives in its nuclear energy program.

Iran rejects the allegation, arguing that as a committed signatory to the Non-Proliferation Treaty and a member of the International Atomic Energy Agency (IAEA), it has the right to use nuclear technology for peaceful purposes.

In addition, the IAEA has conducted numerous inspections of Iran's nuclear facilities but has never found any evidence showing that Tehran’s nuclear energy program has been diverted toward military objectives. /SR