Mitsubishi Corporation

Energy, Trading
TYO: 8058
Japan
NYK Line

In 2017 the U.S. state of California listed Mitsubishi as a company under review for reportedly renewing contracts to purchase Iranian crude.

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"Japan's Mitsubishi Corp bought a naphtha cargo from Iran last month, the Asian country's first such purchase from Iran since October 2016, sources familiar with the matter said. The naphtha cargo, loaded in late January, has arrived in Japan and is from the new Persian Gulf Star Refinery (PGSR), one source added… A Mitsubishi spokesman confirmed it had bought naphtha from Iran recently, but declined to comment on details or which refinery the cargo was from due to company policy." (Reuters, "Japan's Mitsubishi Buys Iran Naphtha Cargo," 2/21/2017).

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The German economy ministry said several firms from the Mittelstand, the small-to-medium-sized companies that form the backbone of the economy, had also signed deals with Iranian partners. Mitsubishi Germany has signed a contract to modernize a gas-fired plant, while plant constructor Keller HCW wants to build a brickyard in Iran, it said. Both countries' central banks have also agreed to technical co-operation." (Reuters, "Siemens signs Iran rail contract as Germany drums up business," 10/3/2016). 

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"Iran said on Monday that it welcomes the return of Japan's Mitsubishi and Mitsui to its petrochemical projects. Abbas Sheri-Moqaddam, the managing director of the National Petrochemical Company (NPC), said Mitsubishi and Mitsui had a satisfactory performance in different sections of Iran’s petrochemical industry. Sheri-Moqaddam,  speaking in a meeting with the heads of the two companies who are in Tehran on board a senior Japanese trade delegation, added that they can again participate in Iran’s projects once the sanctions against the country are lifted... The heads of Mitsubishi and Mitsui for their part said they are ready to resume investments in Iran once the sanctions against the country are lifted." (Press TV, "Iran wants Japan’s big petchem firms back," 10/12/15) 

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"Iran is in talks with three Japanese and South Korean oil and gas companies to invest in its oil and gas projects, Head of Investment Committee of the National Iranian Gas Company (NIGC) Asghar Soheilipour said. He said that Japan's Mitsubishi and South Korea's LG and Samsung are negotiating with NIGC to design, establish, and install gas refineries and pipelines, Iran's Mehr news agency reported on Jan. 13. Some Japanese and Italian companies have announced readiness to implement projects even before lifting the international sanctions, he noted." (Trend, "Iran in Talks with Japanese, Korean Oil and Gas Companies," 1/13/15)

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"Head of the investment committee of the Iran National Gas Company (INGC) Asghar Soheilipour said that his company was offering information about Iran's top priority gas projects to potential foreign and domestic investors... The official referred to Mitsubishi, LG and Samsung as corporations having announced readiness for making investments in Iran gas projects." (IRNA, "Official: Foreign firms eying investment in Iran gas industry," 1/3/15)