BHP oil export
BHP has agreed to a further export oil shipment to Japan but the fate of the contract is uncertain.
The 650,000 barrel shipment is intended for Japan’s fourthlargest oil distributor, Maruzen Oil Company, but the light crude cargo from Bass Strait is not due to arrive in Japan until after July 1 — when the Federal Government’s policy of allowing export shipments from the Bass Strait oilfields expires.
Oil analysts believe the policy will be extended into the next financial year because local refiners cannot absorb the total Bass Strait output. The latest contract is BHP’s seventh since the policy was introduced and is estimated to have brought the company about $135 million.
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Press, 13 June 1984, Page 30
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115BHP oil export Press, 13 June 1984, Page 30
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