JXTG Holdings

Energy
TYO: 5020
Japan
JXTG
JX Nippon Oil & Energy JX Group

In 2019 JXTG was listed on the Texas Comptroller List of Companies Engaging in Scrutinized Business Operations in Iran.  

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JXTG Holdings, Japan’s biggest oil refinery operator, has secured crude oil supplies from other countries such as Saudi Arabia to replace Iranian oil shipments that have been crimped by U.S. sanctions, its president said on Monday.

“We are not importing Iranian oil from May but there is no major impact,” JXTG Holdings President Tsutomu Sugimori, told an earnings news conference, when asked about the impact of tighter U.S. sanctions on Iranian oil.

“We have already secured supplies to replace Iranian oil from countries such as Saudi Arabia,” he said. (Reuters, "JXTG says gets supplies from Saudi, others to replace Iranian oil," 5/13/2019).

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JXTG Holdings Inc., a refiner, plans to follow government guidance, and if necessary will replace Iranian supplies with supplies from the Middle East, West Africa, and possibly the United States. (June 29, 2018)

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According to its 2017 Annual Report filed with the SEC: "During the fiscal year ended March 31, 2017, JXTG Nippon Oil & Energy, a wholly-owned subsidiary of JXTG Holdings, purchased 31 million barrels of crude oil from National Iranian Oil Company for a total purchase price of ¥144,046 million, out of a total of 415 million barrels of crude oil that it purchased during the same period, constituting approximately 7% of the total amount of crude oil that it purchased during the same period.

JXTG believes that the above transaction does not subject it or its affiliates to U.S. sanctions. JXTG Nippon Oil & Energy does not currently intend to cease purchasing crude oil from National Iranian Oil Company."

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In 2017 the U.S. state of Michigan, South Carolina and Tennessee listed JXTG as an Iran restricted company rendering JXTG ineligible for investment and/or state contracting.

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In 2015 JX Holdings was removed from Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because the company's "involvement in purchases of crude oil falls uner the waivers granted by the U.S. government that meet Section (a)(2) of Act 44's expiration clause."
 

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In 2013, JX Holdings was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because of Government oil-related activity.