Itochu Corp. has signed a contract to import Iraqi crude oil between October and December, an official of the trading house said Friday.
The official declined to specify the volume of Basra crude oil it will purchase from Iraq’s State Oil Marketing Organization.
Itochu is the second Japanese company to sign a contract to import Iraqi crude oil since the end of the U.S.-led war in Iraq.
Trading house Mitsubishi Corp. signed a contract in July with SOMO to purchase 40,000 barrels of Basra Light crude a day for five months beginning in August.
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