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2018-06-04 13:45:00

THE DRAMATIC U.S. GOVERNMENT

THE DRAMATIC U.S. GOVERNMENT

PLATTS - US Treasury Secretary Steven T Mnuchin discussed Iran-related developments with Japan's Deputy Prime Minister and Finance Minister Taro Aso Thursday, a Treasury spokesman said in a readout of the meeting, which included topics on North Korea and bilateral economic issues.

The meeting comes at a time when Tokyo is seeking clarification from Washington on its intended re-imposition of sanctions against Tehran.

It also comes a day after a Ministry of Economy, Trade and Industry official said that Japan will try to avoid any sudden reduction in its Iranian crude oil imports and may seek some form of exemption from the renewed US sanctions regime.

On the sidelines of a conference in Azerbaijan Wednesday, Daisuke Hirota, principal deputy director at METI's oil and gas division, played down the prospect of Japan reducing its imports of Iranian crude, something the Petroleum Association of Japan has said could happen from October.

He noted Japan had an exemption from the US and EU-led sanctions regime earlier in the decade.

"We continued to import about 170,000 b/d from Iran and now we continue to import from Iran at this level," he told S&P Global Platts. "We think to continue to get the exemption from the US to keep this amount of imports from Iran."

"Japanese companies don't want to stop imports suddenly," he said, adding the US position needed clarifying. "The situation in the US government is drastically changing every day."

"Now we are collecting information and keeping in touch with the US government," he added. "We need to continue to keep imports, and to keep imports from Iran we need to get information and communication with the US government."

Japan imported an average of 165,481 b/d of Iranian oil in fiscal 2017-18 (April-March), down 28% from the previous fiscal year, and Iranian imports accounted for 5.2% of Japan's total crude imports of 3.19 million b/d in the fiscal year ended on March 31, according to the METI data.

US president Donald Trump said on May 8 that the US would withdraw from the Iran nuclear deal and re-impose sanctions that have been frozen since January 2016 as part of the Joint Comprehensive Plan of Action.

International buyers of Iranian oil have until November 4 to wind down contracts before the US re-imposes sanctions on the oil, energy, shipping and insurance sectors, a US Treasury Department fact sheet showed.

The US will also consider allowing countries to continue importing Iranian crude oil, as long as they demonstrate they are significantly reducing those volumes every 180 days, the fact sheet showed.

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Earlier:

 INDIA IGNORES SANCTIONS
2018, May, 30, 13:45:00

INDIA IGNORES SANCTIONS

BLOOMBERG - India, a long-time buyer of oil from both Iran and Venezuela, only complies with United Nations-mandated sanctions and not those imposed by one country on another, said foreign minister Sushma Swaraj at a press conference in New Delhi on Monday.

 NO IRAN SANCTIONS
2018, May, 18, 09:05:00

NO IRAN SANCTIONS

REUTERS - European Union leaders united behind the 2015 accord, and Brussels announced it would launch a legal process banning EU-based firms from complying with the sanctions that President Donald Trump has reimposed on Iran.

 GLOBAL IRAN SANCTIONS
2018, May, 14, 11:35:00

GLOBAL IRAN SANCTIONS

PLATTS - Trump's plan to leave the Iran nuclear deal and reimpose sanctions could have major impacts for global oil, natural gas, metals and petrochemical markets.

 IRAN'S OIL EXPORTS 2.17 MBD
2018, May, 7, 08:30:00

IRAN'S OIL EXPORTS 2.17 MBD

SHANA - The CEO of the National Iranian Oil Company (NIOC) said the country’s crude oil export stood at average 2.170 million barrels per day (mb/d) over the course of the previous Iranian calendar year of 1396 which ended on March 20.

JAPAN NEEDS MORE OIL
2016, November, 17, 18:40:00

JAPAN NEEDS MORE OIL

Japan sees the current low oil price environment creating "a significant chance for acquiring [upstream] stakes and assets," as well as the need to facilitate upstream investments amid slowing investments globally, Yuki Sadamitsu, director of the oil and gas division at the Ministry of Economy, Trade and Industry said in an interview with S&P Global Platts last month.

 62% ИРАНСКОЙ НЕФТИ ДЛЯ АЗИИ
2016, October, 18, 19:00:00

IRANIAN OIL TO ASIA: 62%

Director of National Iranian Oil Company (NIOC) International Affairs has announced that 62 percent of the Iranian oil is being exported to the Asian countries and the rest to the European states.

 IRANIAN OIL TO JAPAN:  UP 61.2%
2016, July, 7, 18:15:00

IRANIAN OIL TO JAPAN: UP 61.2%

Japan's crude imports from Iran recovered to pre-sanction levels in May, importing 307,691 b/d, up 61.2% year on year and up from 19,161 b/d in April, according to preliminary data released June 30 by the Ministry of Economy, Trade and Industry.

 
Tags: USA, IRAN, JAPAN, SANCTIONS

Chronicle:

THE DRAMATIC U.S. GOVERNMENT
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GERMANY'S RENEWABLE: 38%

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THE DRAMATIC U.S. GOVERNMENT
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THE DRAMATIC U.S. GOVERNMENT
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THE DRAMATIC U.S. GOVERNMENT
2018, December, 14, 08:40:00

BOLIVIA'S GDP UP BY 4.5%

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