Tag Archives | Chiyoda

Iran Plans big Oil-Refinery Expansion

Iran plans to build five new refineries over the next four years to increase capacity from its current level of 1.85 million bpd to about 3.2 million bpd. Abbas Kazemi, managing director of the National Iranian Oil Refining and Distribution Company (NIORDC) told Bloomberg that the country also needs about $14 billion in investment to […]

Japan Refiners and Banks Resume Iran Trade

By John Lee. Japanese oil refiners have started making oil payments to Iran through the Asian country’s largest lender, the Bank of Tokyo-Mitsubishi UFJ (BTMU). Tokyo lifted sanctions against Iran last month; BTMU can now process Iranian oil payments for Japanese refiners both in the yen and euros, according to Platts. The bank handled most […]

Japanese Firms Looking at Iranian Opportunities

By John Lee. Nikkei Asian Review reports that Japanese companies are eager to return to Iran, but adds that the risk of doing business in the volatile region is also not lost on anxious corporate chiefs. Tokyo lifted sanctions on Iran on Friday, and Japanese automakers, including Toyota, Nissan and Mazda aim to quickly restart exports, […]