Iran plans to export 240,000bpd crude to Japan in 2012

TEHRAN,Jan.8(MNA)-- Iran is planning to export up to 240,000 barrels per day (bpd) of crude oil to Japan in 2012, the National Iranian Oil Company’s director for international affairs said on Saturday. Mohsen Qamsari added that Iran’s oil exports to Japan has declined by 100,000 bpd, but the cut has been due to the fact that the Asian country reduced its overall crude oil imports from all over the world to 3.5 million bpd from 5.5 million bpd in recent years. On Thursday, Japanese officials expressed their concern about the possible negative global economic impact of increasing U.S. and European pressure on Iran over its nuclear program. An official at the Ministry of Economy, Trade and Industry said an embargo on Iranian oil would lead to a sharp rise in crude oil prices, adding that the U.S. must consider the negative impact of such a development on the global economy, according to Reuters.