- About Us
- Accounting Campaign
- Airports Campaign
- Austria Campaign
- Auto Campaign
- Cranes Campaign
- Cranes, Construction & Tunneling Campaign
- France Campaign
- GAO Campaign
- Germany Campaign
- IRGC Campaign
- Italy Campaign
- Lebanon Banking Campaign
- Luxury Campaign
- Port Authority Campaign
- Rial Currency Printing Campaign
- Shipping Campaign
- SWIFT Campaign
- Switzerland Campaign
- Tech & Telecom Campaign
- UN Campaign
- UNGA Campaign
Value of USG Contracts:
Showa Shell Sekiyu is a subsidiary of Royal Dutch Shell plc.
"Japanese shippers will start loading on Friday their first cargo of Iranian oil in a month and a half, after the government provided insurance guarantees to replace EU coverage which was suspended due to sanctions against Iran, sources said…Japan's top refiner, JX Nippon Oil & Energy, which has a contracted volume with Iran of 83,000 bpd, has emerged as the country's biggest buyer of Iranian crude, taking the top spot from Showa Shell Sekiyu.
Showa Shell is likely to have reduced its contracted volumes to around 60,000-70,000 bpd, from last year's import average of 100,000 bpd, one of the sources said." (Reuters, "Japan shippers to resume loading Iranian oil on Friday," 7/20/12)
"Japan will not import any Iranian crude in July as buyers held back to avoid any risk of running foul of EU sanctions targeting insurance, which have severely disrupted the OPEC member's supplies, industry and government sources said on Wednesday.
Japan will join South Korea among top Asian buyers in halting all Iranian imports this month due to sanctions imposed by Brussels on Sunday that aim to cut Iran's oil revenues and force Tehran to curb its nuclear program. The measure will cost Iran dearly in July, as Japan and South Korea imported a combined 256,000 barrels per day (bpd) of Iran's crude in May, worth over $750 million at current oil prices…The EU oil embargo has stopped European insurers, who dominate the maritime sector, from offering cover on Iranian crude. Industry watchers say the EU step has proven to be the hardest hitting measure in the West's arsenal of sanctions aimed at Iran.
Japan's government agreed last month to step in and provide insurance cover of up to $7.6 billion for shipments to keep oil trade with Tehran going…The country's next shipments will be loaded in Iran in late July. Allowing for journey time, they will arrive in Japan after mid-August, sources said…Japan has already scaled back its purchases of Iranian crude to ensure an exemption from U.S. sanctions, which target financial institutions dealing with Iran's central bank. The U.S. measures came into effect last week.
The United States gave Japan a waiver to those sanctions earlier this year after the Asian country reduced its import volumes of Iranian crude…Japan is the only country to date to offer sovereign guarantees on shipments…Japan's biggest buyers of Iranian oil are Showa Shell Sekiyu KK and JX Nippon Oil & Energy Corp.." (Reuters, "Exclusive: Japan to import no Iranian oil in July," 7/4/2012)
"Japan has been able to continue with the imports as the country's parliament on Wednesday approved an unprecedented law that allows Tokyo to provide cover of up to $7.6 billion for incidents involving tankers bringing Iranian oil to the country . . . Japan's biggest buyers of Iranian oil, Showa Shell Sekiyu KK (5002.T) and JX Nippon Oil & Energy Corp (5020.T), are to load a total of four vessels in June, steady from May, with shipments arriving this month and next, traders said on Wednesday, Showa Shell is Japan's top buyer of Iran oil this month, they added." (Reuters, "Japan, China to import Iran oil after EU Ban," 6/20/12)
"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)