TEHRAN Oct. 19 (Shana) – Director of International Relations in the Iranian Ministry of Petroleum said Japanese refiners are interested to import crude oil from the Islamic Republic as Iran is ready to secure 10 percent share of the Asian nation’s refining industry.

“Japan’s refining capacity has decreased from 5.5 billion bpd to 3.5 million bpd. In the post-sanction era, Iran can have 10 percent of its refining capacity,” Mohsen Qamsari said.

Saying that anti-Iran sanctions and Japan’s decreasing refining operation were behind the decline in Iran’s exports of crude oil, he added, “We have reached the general understanding with Japanese firms for increased sale of crude oil.”

“However, due to political considerations, they are waiting for complete removal of the sanctions,” Qamsari said.

Last  Tuesday, Japanese Foreign Minister Fumio Kishida said there are an increasing number of companies from the world’s Asian heavyweight economy which are after restoring cooperation with Iran’s oil counterparts in the post-sanction era.

“Today, we exchanged views on expansion of economic ties,” he told Shana following a meeting with Iranian Petroleum Minister Bijan Zangeneh during which they discussed oil, gas, and petrochemical joint ventures.

Kishida who was heading a 23-member delegation of Japanese businessmen and officials from resource-poor Japan is seeking to secure stable supplies of crude oil and natural gas from Iran and is making arrangements for setting up a bilateral committee to deal with energy and infrastructure development and other economic issues, media reports in Tokyo said.

Zangeneh said after the meeting that any deal with Japanese companies is subject to implementation of the nuclear Joint Comprehensive Plan Of Action (JCPOA) which Tehran and the P5+1 powers endorsed in Vienna in July for removal of sanctions on Iran.

On the eve of the ministerial meeting, Qamsari said the giant Japanese refiner Showa Shell is in negotiations with Iran over volume of buying crude oil from Iran after sanctions are lifted.

Also Deputy Petroleum Minister for Petrochemical Industry Abbas Shari-Moqaddam and Senior Executive Vice President of Mitsubishi Corporation’s Chemical Group, Takahisa Miyauchi, exchanged views on the possibility of the Japanese firm’s participation in Iran’s projects.

By SHANA