Showa-Shell Signs up for 30,000 b/d Iranian Term Contract

Showa-Shell is the latest Japanese buyer to sign up for a new term contract to purchase crude oil from Iran's NIOC. The company will buy 30,000 b/d of Iranian crude over a six-month period at official prices. This brings the total volume of new term contracts concluded between NIOC and Japanese buyers up to around 150,000 b/d.

Previous contracts (MEES, 25 May) were signed with C. Itoh (40,000 b/d), Idemitsu (30,000 b/d),...