Japan Winds Down Iran Oil Imports

Japan crude and condensate imports from Iran fell to 48,000 b/d in October, the second lowest this year. Imports appear to have fallen to zero in November. Arrivals will likely remain zero in December. But, with Japan among the eight countries granted US waivers to keep importing ( MEES, 9 November ), Japan Petroleum Association honcho Takashi Tsukioka says he expects loadings to resume in late December – implying January-arrival cargoes in Japan. "The amount of the imports will likely grow from January to March," he says.

Japan imported 153,000 b/d from Iran for the first 10 months of 2018, and is on course this year to import the lowest volume of crude and condensate in over a decade. October’s takings consisted of one cargo each of Iran Heavy (437,000 barrels), Foroozan Blend (577,000 barrels) and South Pars condensate (477,000 barrels). (CONTINUED - 210 WORDS)