Iran Provided 10,7% of Japan's Oil Imports in September

Sunday, October 31, 2010

Iran provided 10,7% of total Japanese crude oil imports last September, according to figures from the Ministry of Economy, Trade and Industry (METI).

It said that refiners and trading companies imported 23.2% more crude oil from Iran in September than in August, suggesting that Japanese sanctions against Iran didn't affect its crude shipments.

The big rise in imports of crude from Iran contrasts with overall Japanese crude imports last month, which fell 7.2% on month to 3.45 million barrels a day, according to METI data.

Economic sanctions imposed by Japan and USA on Iran do not apply to crude trade but have prompted banks to increase fees for letters of credit for crude imports from Iran, according to oil traders.

Monthly data by METI also showed that Japan, the world's No.3 oil-consuming country, tripled its crude oil imports from Russia in September from the same month a year earlier.

Russian oil accounted for 9.5 percent of the total imports, or 320,000 million barrels per day, to Japan last month, ranking as its fourth-biggest supplier for a second month in a row.

Saudi Arabia remained the biggest oil supplier to Japan, exporting 29.44 million barrels, or 28,5% of Japan's total imports, followed by the United Arab Emirates with 21.20 million barrels, or 20,5% of Japan's crude imports in September.

Arabic countries, including Algeria, Sudan and the Natural zone between Saudi Arabia and Kuwait, supplied 75,4% of total Japanese crude imports in September, according to METI.

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