TOKYO/SINGAPORE (Reuters) - Japanese refiner Fuji Oil Co is set to resume Iranian crude purchases after Japan received a waiver from U.S. sanctions on Tehran, industry sources familiar with the matter said.
The refiner is under discussions to obtain final approval from the Japanese government for loading starting in January, the sources said on condition of anonymity due to the sensitivity of the matter.
The company is looking to buy South Pars condensate, one of the sources said. The volumes were unclear, but are seen below 1 million barrels, the source said.
Condensate is an ultra light oil processed at splitters, typically to produce naphtha for petrochemicals.
(Reporting by Osamu Tsukimori in TOKYO and Florence Tan in SINGAPORE; Editing by Joseph Radford)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app