Iran Provided 7,7% of Japan's Total Oil Imports in October 2011

Friday, December 2, 2011

Tokyo- (PanOrient News) Iran provided 7.7% of total Japanese crude oil imports in October 2011, according to figures from the Ministry of Economy, Trade and Industry (METI).

It said that refiners and trading companies imported 8.138 million barrels of crude oil from Iran in October, suggesting that Japanese sanctions against Iran didn't affect its crude shipments.

This puts Iran in the 4th place in the list of crude providers to Japan.

Last week, Japan was asked by France to join in an import ban on Iranian oil, but Tokyo was unlikely to do so, although it was yet to send its response, a government official said.

"We need to be very careful in making such a decision, given that our priority is securing energy supply in the aftermath of the massive earthquake" in March, an official from the Ministry of Foreign Affairs told Dow Jones.

Saudi Arabia remained the biggest oil supplier to Japan in October, exporting 31.83 million barrels, or 30.2% of Japan's total imports, followed by the United Arab Emirates with 22 million barrels, or 21.7% of Japan's crude imports. Qatar came third with 11 million barrels or 10.4% of the total.

Kuwait came fifth with 6.53 million barrels (6.2%) and Russia followed with 5.62 million barrels (5.3%). Japan imported 3.88 million barrels from Iraq (3.7%).

Arabic countries, including Oman, Yemen, Sudan and the Saudi-Kuwaiti neutral zone, supplied 80.7 million barrel or 76.6% of total Japanese crude imports in October, according to METI.

Japan's fossil fuel demand has risen as utilities have boosted thermal power generation to cover the shortfall left by nuclear reactors idles following the devastating March earthquake and tsunami.

PanOrient News

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