Watching the World: Nuclear Iran worries Japan

Some oil-consuming countries may be intimidated by the idea of offending Iran, but that does not appear to apply to Japan. Indeed, deeply concerned by those nuclear ambitions, the Japanese have begun to distance themselves from Iran.The first sign of this took place last week when Nippon Oil Corp. Pres. Fumiaki Watari said his firm planned to reduce its oil imports from Iran. In 2005, those supplies came to 142,000 b/d, or around 14% of Nippon’s total imports. Watari said Nippon would seek 120,000 b/d from Iran in 2006, preferring to make up the shortfall by purchasing from other countries such as Saudi Arabia and Kuwait. For that matter, Nippon could also increase oil imports from ...

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