Speaking at a press conference in Tokyo, Tsukioka said that the Japanese
refiners are planning to load Iranian crude by March, as well as considering
their options beyond May, S&P Global Platts reported.
In the absence of clarity over the extension of the US sanctions waiver
in March, Tsukioka said the refiners' lifting of Iranian oil would stop in
April.
"It would be best to have
clarity over the sanctions waivers by the end of March," Tsukioka said.
"If decided in March, we will be able to continue loading Iranian oil."
Tsukioka also added that Japanese refiners would continue to buy spot
Iranian oil whether or not their term contracts are renewed if the sanctions
waiver is granted.
Showa Shell, Fuji Oil and Cosmo Oil were the first Japanese refiners to
resume Iranian crude loadings in January -- the first in four months --
totaling around 4.9 million barrels.
This was followed by JXTG Nippon Oil & Energy resuming loadings in
early February. Idemitsu Kosan has also said it intends to resume its purchases
of Iranian crude oil during the current US sanctions waiver.