-Caveat Lector-
Begin forwarded message:
From: "Vigilius Haufniensis" <[EMAIL PROTECTED]>
Date: October 10, 2007 10:19:28 AM PDT
To: <[EMAIL PROTECTED]>
Cc: <[EMAIL PROTECTED]>, <cia-
[EMAIL PROTECTED]>
Subject: [cia-drugs] Oil bourse update: Japanese to pay Iran in Yen
Reply-To: [EMAIL PROTECTED]
http://www.iranian.ws/iran_news/publish/article_22944.shtml
Oil bourse update: Japanese to pay Iran in Yen
Oct 9, 2007
Cosmo and Japan Energy will pay for Iran's crude in yen
At Iran's request, two Japanese oil refining companies have started
to pay Iran in yen instead of US dollars in exchange for oil imports.
Recent reports indicate that Japanese refiners Cosmo Oil Co. and
Japan Energy Corp. have decided to stop paying Iran in US dollars
in exchange for oil imports, following Iran's request. By asking
its customers to pay in currencies other than the dollar, Iran aims
to counter US pressure and protect itself against the weakening
American currency.
Cosmo, Japan's fourth largest refiner with a production capacity of
635,000 barrels a day, started paying Iran in yen in September,
said the company's spokesman, Tatsuya Yano. Iran's crude amounted
to 11 percent of what the company processed in the last fiscal year
that ended in March, he added.
Japan Energy is the country's sixth-largest refiner that consumes
around 400,000 barrels a day of crude. Around 12 percent of that
amount comes from Iran.
"We buy all Iranian crude through traders. One of the traders
agreed to pay in yen. So, we will pay in yen for part of our
Iranian crude purchase," said Japan Energy spokesman, Masanori Takada.
Earlier, Japan's largest refiner, Nippon Oil Corp., had also
announced that it would be paying in yen in return for Iranian oil.
Nippon Oil imports over 110,000 barrels of oil from Iran every day.
© Iranian.ws
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