UANI

 Showa Shell Sekiyu is a subsidiary of Royal Dutch Shell plc.

--

"Besides JX Nippon, Japan's top buyer of Iranian crude, Showa Shell Sekiyu KK, and Cosmo Oil have already renewed term deals to lift Iranian crude from April, industry sources have said. Only JX and Showa Shell have plans to lift Iranian oil in April and May among the Japanese oil firms, industry sources have said. Showa Shell was not immediately available for comment." (The New York Times, "Japan's JX: No Problem With Paying Iran for Oil Now," 5/17/2012)

--

"Japan's Cosmo Oil Co has renewed its annual oil purchase deal with Iran and cut the volume to comply with U.S. sanctions against the Islamic nation, trade sources said on Friday. A company spokesman declined to comment. Cosmo's new contractual volume from April onwards remained unclear. The company had already lowered its Iran crude imports to a little below 30,000 bpd from about 40,000 bpd since January, and was set to cut further from April, the sources said. Japan's top buyer of Iranian crude, Showa Shell Sekiyu KK , has already renewed its deal, industry sources have said. The contract renewal came after Iran agreed to include a clause in contract terms that released Japanese buyers from any penalty if international sanctions prevent them from taking delivery of Iranian oil, sources said." (Reuters,"Japan's Cosmo Oil renews Iran imports deal," 4/20/2012)

--

"Japan will slash its crude purchases from Iran by almost 80 percent in April compared to the first two months of the year as buyers comply with Western sanctions, trade sources said. The cuts, amounting to 250,000 barrels per day, are the steepest yet by the four Asian nations who buy most of Iran's 2.2 million bpd of exports, as tightening sanctions make it tough to pay, ship and insure the oil... Sources said top importer Showa Shell had reduced the volume of oil it will import from Iran under an annual deal the company renewed in April. One source said the cuts may range between 15 percent to 20 percent from last year's 100,000 bpd contract, but exact details were not available. JX Nippon Oil & Energy Corp, Japan's biggest oil refiner, has not renewed a contract to buy 10,000 barrels per day (bpd) of Iranian crude, which expired in March. JX has another contract for 80,000 bpd of crude from Iran, which was renewed in January." (Reuters, "Japan cuts April Iran oil purchases 77 percent," 4/18/12)

--

"In 2009, Iran exported about 421,000 bpd of crude to Japan. It was overtaken by Qatar, however, as Japan's third-largest crude supplier.  Many of Japan's top refiners buy Iranian crude, including Showa Shell Sekiyu (5002.T), Nippon Oil (5001.T), Japan Energy, Cosmo Oil (5007.T)." (Reuters, Iran's Crude export and fuel import customers, 4/13/2010)

--

"Due to economic considerations, Japanese refining companies have become increasingly dependent on the Middle East for oil. Showa Shell relies more heavily on Iran than other companies for oil imports. As Iranian oil is best processed at the second refining unit at the Yokkaichi Refinery, this has contributed to the construction of a state-of- the-art refining facility and the development of technology for more efficient processing of white oil." (Company Website, 2001 Business Review)