Japan refiner renews Iran oil contract

Notwithstanding US-led sanctions against Iran’s energy sector, Japan’s top refiner JX Nippon Oil & Energy has extended its crude oil import contract with Iran for 2013.

According to Press TV, 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.