TOKYO: Japanese refineries have put a halt on imports of Iranian oil after buying 15.3 million barrels between January and March ahead of the expiry of a temporary waiver on US sanctions, according to industry sources and data on Refinitiv Eikon.
The waiver, which allowed Japan to buy some Iranian oil for another 180 days, expires in early May. However, Japanese refiners want to ensure enough time for all cargoes already loaded to arrive in Japan and for payments to be completed.
“We think it would be difficult to keep on lifting Iranian oil after March,” a Fuji Oil spokesman said, noting that banks and insurance companies want to make sure all the transactions and deliveries are done well before the waivers expire.
The last Iranian oil cargo onboard supertanker Kisogawa is expected to arrive at Chiba, Japan, on April 9, the data showed.
The United States last year demanded that nations cut all Iranian oil imports when it reimposed sanctions on the country’s petroleum sector on Nov. 4 over Tehran’s nuclear program.
However, Washington granted temporary exemptions to Iran’s biggest oil clients — Japan, China, India, South Korea, Taiwan, Italy, Greece and Turkey.
Refiners in Japan, the world’s fourth-biggest oil consumer, had stopped loading Iranian oil by mid-September, and only resumed loading in late January after banks received government assurances about processing payments to Iran.
Japan has loaded 15.3 million barrels of Iranian crude in the first three months this year, which is equivalent to 86,430 barrels per day (bpd) during the six-month waiver period, according to Refinitiv data and Reuters calculations.
This represents a 33 percent drop from an average of 129,300 bpd that Japanese companies lifted between January and September last year before the sanctions kicked in, Refinitiv data showed.
The drop was more than the 20 percent reduction in supplies that Washington was said to have sought from each country over the six-month waiver period.
Japan has increased imports from the Middle East, Russia and the Americas as its Iranian imports fell, according to government data.
Japanese refiners have been pushing the government to seek an extension of the US sanctions waivers after the initial exemption period expires.
Japanese officials and their US counterparts met earlier this month in Washington to discuss the US sanctions.
“I think the waiver could be extended, but maybe for a smaller volume and for a smaller number of countries,” said Takayuki Nogami, chief economist at Japan Oil, Gas and Metals National Corp.
“If the US government does not extend the waiver, it could push crude oil prices up significantly as the gasoline season approaches and it could hurt Trump’s reputation,” he said.
On Wednesday, Japan extended state-backed insurance to cover imports of oil from Iran for another year.
Japanese refiners halt Iran oil imports as waiver expiry looms
Japanese refiners halt Iran oil imports as waiver expiry looms
- The last Iranian oil cargo onboard supertanker Kisogawa is expected to arrive at Chiba, Japan, on April 9
- The US last year demanded that nations cut all Iranian oil imports when it reimposed sanctions
Saudi tourism employment surpasses 1m as hospitality sector expands
RIYADH: Saudi Arabia’s tourism workforce surpassed 1 million in the third quarter of 2025, underscoring the sector’s rapid expansion as the Kingdom continues to develop its hospitality infrastructure and visitor economy.
According to the latest Tourism Establishments Statistics report released by the General Authority for Statistics, the total number of employees in tourism activities reached approximately 1,009,691 in the third quarter of 2025, marking a 6.4 percent increase compared to the same period in 2024, when employment stood at 948,629.
The growth in employment comes alongside a significant rise in the number of licensed tourism hospitality facilities, which increased by 40.6 percent year on year to reach 5,622 in the third quarter. Of these, serviced apartments and other hospitality facilities accounted for 52.6 percent, while hotels represented 47.4 percent.
The robust growth reflected in the latest tourism statistics aligns directly with the goals of Vision 2030, as the Kingdom aims to double tourism’s gross domestic product contribution to 10 percent. The sector is also seeking to create 1.6 million jobs, and attract 150 million visitors annually by 2030.
The report showed that non-Saudi employees made up the majority of the tourism workforce, numbering 764,520 and accounting for 75.7 percent of the total. Saudi nationals employed in the sector reached 245,171, representing 24.3 percent of all tourism workers.
In terms of gender distribution, male employees dominated the sector with 875,658 workers, while female employees totaled 134,033, making up just 13.3 percent of the workforce.
Hotel performance showed positive momentum, with the average room occupancy rate rising to 49.1 percent during the quarter, an increase of 2.9 percentage points from 46.1 percent in the same period a year earlier.
In contrast, serviced apartments and other hospitality facilities experienced a slight dip in occupancy, recording 57.4 percent compared to 58 percent in the same quarter of 2024.
The average daily room rate in hotels decreased by 3.6 percent to SR341 ($90.9), down from SR354 in the third quarter of 2024. Meanwhile, serviced apartments and similar facilities saw their average daily rate rise by 4.1 percent to SR208, up from SR200 a year earlier.
The average length of stay in hotels was 4.1 nights, down 1 percent from 4.2 nights in the third quarter of 2024. For serviced apartments and other hospitality facilities, the average stay was 2.1 nights, reflecting a marginal decrease of 0.2 percent year-on-year.
The statistics draw on administrative records, surveys and secondary data to capture activity across the Kingdom’s tourism sector, GASTAT said.
