It will take Japan months to resume Iranian oil imports, though


May 28, 2021

An offshore platform in Iran / Credit: NIOC

Japanese refineries will take at least three months to resume Iran oil Imports, even if Tehran’s nuclear talks with the world powers lead to an agreement and lifting of sanctions, said the head of the Petroleum Association of Japan (PAJ) on Thursday.

“Even if the resumption of Iran oil The export will really take place, we have to consider it from then on, and it will be at least three months before the import resumes, “said PAJ President Tsutomu Sugimori at a press conference.

Eneos Holdings Inc, Japan’s largest oil Refiner, such a deliberation has not yet begun, added Sugimori, who serves as the company’s chairman.

The oil Markets are watching the Iranian nuclear talks to see if sanctions are imposed on them oil Exports would rise entirely and prices on both sides of the Atlantic would decline amid concerns over a possible return of Iranian supply.

Iranian government spokesman Ali Rabiei said this week that he was optimistic that Tehran would soon reach an agreement with the world powers, although Iran’s chief negotiator said serious problems persist.

At the Tokyo 2020 Olympics, of which Eneos is an official partner, Sugimori said he was aware that many people have concerns about the implementation of the Games, but that it is the company’s “role to play the Tokyo Olympics Support partner “.

Several polls have shown that the majority of the public are against hosting the Games this summer as Japan battles to contain a fourth wave of infections and prepares to extend the state of emergency across much of the country.

The head of a Japanese medical union has even warned that staging the Games, due to begin in eight weeks, could lead to the emergence of an “Olympic” strain of coronavirus.

(Reporting by Yuka Obayashi; Editing by Himani Sarkar)


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