Subscribe free to our newsletters via your
. GPS News .




ENERGY TECH
Japan slashes Iran oil imports amid sanctions
by Staff Writers
Tokyo (AFP) May 30, 2012


Japan cut oil imports from Iran by 65 percent in April while boosting shipments from Saudi Arabia, official data showed Wednesday, amid Western efforts to squeeze Tehran over its atomic programme.

Resource-poor Japan, which relies heavily on Middle East oil, came under pressure earlier this year to curb imports from Iran, with Washington seeking to push Tehran into a corner over what it says is a nuclear weapons programme.

In March Japan pledged to further cut its Iranian oil imports, which it said had already shrunk by 40 percent over the past five years.

On Wednesday, the trade data showed Japan imported 564,962 kilolitres of Iranian crude oil in April, or about 118,450 barrels a day, a drop of 65.5 percent from the same month a year earlier.

The figures -- the first full month of data since Tokyo won an exemption from US sanctions against doing business with Iran -- also showed imports from Saudi Arabia jumped 36.4 percent in the same month to 6.58 million kilolitres.

That is about about 1.38 million barrels a day.

Japan and China are Tehran's biggest oil customers, alongside India and the European Union.

Earlier this month, Iran's state-run oil company denied that China and Japan had sharply cut imports of Iranian crude, echoing Tehran's insistence that Western economic sanctions were having little effect.

The United States said it was exempting 11 countries, including European Union members and Japan, from punitive measures on Iran while praising them for reducing dependency on oil from the country.

In exchange for the reduction, Tokyo won concessions that would exempt its financial institutions from sanctions on banks that do business with the central bank in Iran, which generally handles oil purchases.

The European Union is poised to fully implement an embargo on Iranian oil from July 1.

That could complicate future Japanese imports as the Asian nation's oil firms usually buy insurance domestically for crude shipments, but most of that insurance is sold into European reinsurance markets.

With all of its nuclear reactors now switched off in the wake of the March 2011 quake-tsunami disaster and ensuring atomic crisis, Japan is heavily dependent on fossil fuels to make up an energy shortfall.

.


Related Links
Powering The World in the 21st Century at Energy-Daily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








ENERGY TECH
Iraq offers 12 oil and gas blocks in latest auction
Baghdad (AFP) May 30, 2012
Iraq is putting 12 oil and gas exploration blocks up for sale at a two-day auction that opened Wednesday, which it hopes will boost its reserves and strengthen its position as a key producer. The sale, the fourth such auction to be organised by Iraq since mid-2009, comes as the country ramps up its oil exports, which account for the vast majority of government income, and looks to raise gas ... read more


ENERGY TECH
Australia and China eye joint farming plan

Shiraz with your Peking Duck? Sacre bleu!

One in seven suffer malnourishment: UN food agency

Women warming to white wines in China: experts

ENERGY TECH
The first chemical circuit developed

Copper-nickel nanowires could be perfect fit for printable electronics

Japan's Renesas ups chip outsourcing to Taiwan giant

New silicon memory chip developed

ENERGY TECH
Louis Gallois hands EADS reins to Tom Enders

Boeing Delivers First EA-18G Growler Featuring Bharat Electronics Limited Cockpit Subassembly

Flapping protective wings increase lift

Russia, India to produce transports

ENERGY TECH
Japan's vehicle output soars 174% in April

Japan's April auto output soars in year after quake

Ferrari recalls 56 cars in China: state media

Toyota overtakes GM, regains number one spot

ENERGY TECH
EU, China edge closer to hi-tech trade war

Australian PM: miners don't own minerals

U.K., Spain work on S. America investments

Japan's NEC buys Australian IT firms

ENERGY TECH
Greenpeace says KFC boxes destroy Indonesia forests

Beetle-infested Pine Trees Contribute to Air Pollution and Haze in Forests

Beetle-infested pine trees contribute more to air pollution and haze in forests

Forest diversity from Canada to the sub-tropics influenced by family proximity

ENERGY TECH
CryoSat goes to sea

S Korea to develop geostationary satellite for environmental monitoring

LiDAR Technology Reveals Faults Near Lake Tahoe

Satellite maps ocean floor

ENERGY TECH
Wyss Institute develops nanodevice manufacturing strategy using DNA 'building blocks'

First direct observation of oriented attachment in nanocrystal growth

Stunning image of smallest possible 5 rings

Sensing the infrared: Researchers improve IR detectors with single-walled carbon nanotubes




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement