Iran is eying a 10% share of Japan's 3.5 million b/d crude market after sanctions are removed, a National Iranian Oil Company official said on Monday.
In 2014, Japan imported an average of 168,777 b/d of crude from Iran, down 4.9% on the year, and accounting for roughly 5% of its crude imports.
In January-August it imported 171,814 b/d, up 0.8% on the year, according to METI data compiled by Platts.
"We have reached a general agreement with Japan to increase oil sales but for political reasons, the Japanese are waiting for the complete removal of sanctions," Mohsen Ghamsari, NIOC's director for international affairs, was quoted as saying by oil ministry news service Shana.
"Japanese refiners are more inclined to use Iranian crude rather than other crudes for technical reasons," Ghamsari said.
Iran plans to raise its oil exports immediately after international sanctions are removed.
Since 2012, the sanctions have cut Iranian exports by more than half to around 1 million b/d. Iran expects to have the sanctions removed by 2016.
Iranian oil minister Bijan Zanganeh told reporters on Monday that the exports would increase by at least 500,000 b/d on the day sanctions were removed. Six to seven months later, another 500,000 barrels will be added to the figure, he said.
"At the moment the National Iranian Oil Company is in talks with Showa Shell, a big Japanese refiner, to determine the Asian [crude] price," he said.
He added that he welcomed the agreement for Idemitsu Kosan to take a 33% stake in Showa Shell and said the move was good for Iran because of its good relations with the two companies.
