November 19, 2018 / 2:48 AM / a month ago

Japan's Fuji Oil plans to resume Iran oil loadings from January: sources

FILE PHOTO: A worker riding a bicycle passes the Fuji Oil Co.'s Sodegaura Refinery in Sodegaura, Japan February 8, 2017. REUTERS/Issei Kato/File Photo

TOKYO/SINGAPORE (Reuters) - Japanese refiner Fuji Oil Co is set to resume Iranian crude purchases after Japan received a waiver from U.S. sanctions on Tehran, industry sources familiar with the matter said.

The refiner is under discussions to obtain final approval from the Japanese government for loading starting in January, the sources said on condition of anonymity due to the sensitivity of the matter.

The company is looking to buy South Pars condensate, one of the sources said. The volumes were unclear, but are seen below 1 million barrels, the source said.

Condensate is an ultra light oil processed at splitters, typically to produce naphtha for petrochemicals.

Reporting by Osamu Tsukimori in TOKYO and Florence Tan in SINGAPORE; Editing by Joseph Radford

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