Japan Refiners Undecided on Iran Import

Japanese oil refiners will likely take a few months to decide policy on Iranian crude purchases in response to US sanctions, the new president of the Petroleum Association of Japan, Takashi Tsukioka, said "Japanese refiners are gathering information and have not yet held talks with the Japanese or US government," added Takashi Tsukioka, who is also chairman of Japan’s second-biggest refiner, Idemitsu Kosan Company, Reuters reported. Tsukioka noted that policy on import curbs will likely be decided over the next few months after taking into account the responses of other users of Iranian oil, including China, India, South Korea, France and Italy. "Given a 180-day wind-down period for buyers of Iranian crude to cut their purchases, the refiners will likely have to decide by August on the curbs, when buyers decide their nominations for October loading of Iranian oil cargoes," he said.