Petronas’s South African Unit Suspends Oil Imports From Iran

Petroliam Nasional Bhd.’s Engen unit, the biggest South African importer of Iranian crude, said it has suspended imports of oil from the Middle Eastern nation amid economic sanctions by the U.S. and the European Union.

The company has contingency supplies in place, Engen spokeswoman Tania Landsberg said in an e-mailed response to questions. Engen, which operates the country’s second-biggest refinery based in Durban and with a capacity of 135,000 barrels a day, normally buys about 80 percent of its supplies from Iran.