• 5 minutes 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 8 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 12 minutes Will Uncle Sam Step Up and Cut Production
  • 12 mins China has invested btw $30 - $40 Billon in Canadian Oil Sands. Trump should put 10% tariffs on all Chinese oil exported into or thru U.S. in which Chinese companies have invested .
  • 15 hours Iran Is Winning Big In The Middle East
  • 2 hours Tit For Tat: China Strikes Back In Trade Dispute With U.S. With New Tariffs
  • 4 hours Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
  • 2 hours It's Not the Job of the Government to Dictate Where Businesses Should Go
  • 17 hours Not The Onion: Vivienne Westwood Says Greta Thunberg Should Run the World
  • 16 hours IS ANOTHER MIDDLE EAST WAR REQUIRED TO BOLSTER THE OIL PRICE
  • 1 day OPEC will consider all options. What options do they have ?
  • 1 day Trump cancels Denmark visit amid spat over sale of Greenland
  • 13 hours Strong, the Strongest: Audi To Join Mercedes, BMW Development Alliance
  • 14 hours Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 1 day Long Range Attack On Saudi Oil Field Ends War On Yemen
  • 9 hours Recession Jitters Are Rising. Is There Reason To Worry?
Saudi Arabia’s Newest Strategy To Send Oil Prices Higher

Saudi Arabia’s Newest Strategy To Send Oil Prices Higher

Saudi Arabia’s efforts have been…

The 5 Hottest Gold Stocks Of 2019

The 5 Hottest Gold Stocks Of 2019

Bullish signs are mounting for…

Major Japanese Refiners Suspend Iranian Oil Imports For October

oi refinery

Major Japanese refiners have officially notified Iran that they will halt all imports of Iranian oil for October while they wait for the Japan-U.S. talks on Iranian oil importers to make a permanent decision on how to proceed in November, Jiji Press reports, citing sources in the know.

Idemitsu Kosan and Cosmo Energy Holdings have notified Iran of their plans for October, while top Japanese refiner JXTG Holdings Inc, as well as Fuji Oil Co, which relies heavily on Iranian oil, have decided to temporarily suspend imports from Iran, the sources told Jiji Press.

Japan is still trying to secure a waiver from the United States to avoid its refiners coming under secondary sanctions as importers of Iranian oil. In the meantime, Japanese companies are playing it safe and are halting imports as U.S.-Japanese waiver talks show little progress, according to Jiji Press’s sources.

A Cosmo Energy official told S&P Global Platts earlier this week that it would not load any Iranian oil for the month of October, but it had yet to make a final decision on imports from Iran in November and beyond, as it was still holding onto hopes that it may secure a waiver.

Meanwhile, U.S. Secretary of State Mike Pompeo—who is meeting with the top Indian officials in India today to discuss Iranian oil, among other things—said that the United States would consider waivers “where appropriate”, but reiterated that the United States eventually expects to bring Iranian oil exports to zero.

“We have told the Indians consistently, as we have told every nation, that on November 4th the sanctions with respect to Iranian crude oil will be enforced, and that we will consider waivers where appropriate, but that it is our expectation that the purchases of Iranian crude oil will go to zero from every country, or sanctions will be imposed,” Secretary Pompeo said, noting that many countries would need “a little bit of time to unwind.”

“And from whence they purchase the other crude oil, we’re happy to see if it’s American products that are able to deliver for them. I think that’d be a great outcome. But our mission set is to make sure that Iran doesn’t engage in malign behavior with wealth that comes from countries around the world, thus the purpose of the sanctions,” Pompeo said.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play