Tuesday, 31 January 2012 at 17:41, Reuters, Tokyo
Iran crude accounted for 8.8 per cent of Japan's total imports in 2011. (REUTERS)
Japan's crude imports from Iran in 2011 fell 11.7 per cent, government data showed on Tuesday, in line with Tokyo's aim to trim the imports as part of international efforts to pressure Tehran to rein in its nuclear ambitions.
Japan's data contrasted with that from some Asian nations, as South Korea's Iranian crude imports rose 20 per cent and China imported 30 per cent more last year. India's December trade data is due for release on Wednesday.
Asia hosts four of the top five buyers of Iranian crude.
Like other Asian buyers, Japan, the world's third biggest oil consumer, remains under pressure to cut Iranian crude to secure a waiver from a US law imposing sanctions on financial institutions that trade with Iran's central bank.
Japan's imports from Iran, the world's fifth-largest crude exporter, had fallen by about 40 per cent in the previous five years and this trend would continue, Trade Minister Yukio Edano said this month.
Buyers whose annual term contracts with Iran are to end in March are expected to start talks on the next term contracts in coming weeks.
Tuesday's data, based on a survey of oil companies by the Ministry of Economy, Trade and Industry (Meti), showed Japan's imports from Iran totalled 18.19 million kl, or 313,000 barrels per day, in 2011.
Iran crude accounted for 8.8 per cent of Japan's total imports in 2011, down from 9.6 per cent in 2010. Iran is the fourth biggest crude supplier to Japan.
Imports from Saudi Arabia accounted for 30.5 per cent last year, followed by 23.2 per cent from the United Arab Emirates and 10.6 per cent from Qatar.
Tuesday's data showed crude imports from Iran in December fell 5.8 per cent from a year earlier to 1.6 million kl, or 332,000 bpd.
Data reflecting shipments to refineries and oil terminals sometimes differs from customs-cleared trade data compiled by the finance ministry, depending on the timing of carrier arrivals.
Japan's customs-cleared crude imports from Iran in 2011 fell by 13.2 per cent to 18.23 million kl, or 314,000 bpd.
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