NIOC could trim exports by at least 1 million barrels next month.
NIOC could trim exports by at least 1 million barrels next month.

Iran to Trim Condensate Exports to Asia in October

Iran to Trim Condensate Exports to Asia in October

The National Iranian Oil Company has informed buyers in Asia that it could reduce condensate exports in October because of maintenance at the South Pars Gas Field, six industry sources said on Tuesday.
NIOC could trim exports by at least 1 million barrels that month, one of the sources said. The company typically exports about 15 million barrels of South Pars condensates each month, Reuters reported.
The drop in Iranian condensate exports in October comes as China’s Unipec is about to resume cargo liftings from Iran in October, a second source said. The trading arm of Asia’s largest refiner Sinopec typically halts imports in summer months due to environmental restrictions at Chinese ports.
Demand for Iran’s condensate is also on the rise, as test runs continue at a new splitter operated by its Persian Gulf Star Refinery at Bandar Abbas, the sources said.
A rise in Chinese demand and a drop in Iranian supplies have supported the value of Qatari condensate. Spot premiums for low-sulfur condensate in November are up about 70 cents from the previous month.
Condensate is an ultra light oil processed in splitters to produce mainly naphtha, a petrochemical raw material. It is in the twilight zone between crude oil and natural gas.
They possess characteristics of both oil and gas, and have values and market drivers both similar to, and distinctly separate from, oil and gas.
Iranian oil officials say the country produces and exports up to 600,000 barrels of condensates daily.

Short URL : https://goo.gl/3pZZy8
  1. https://goo.gl/jGEZdG
  • https://goo.gl/ZmGgnv
  • https://goo.gl/zD9R1n
  • https://goo.gl/BGwMvy
  • https://goo.gl/MuLG5U

You can also read ...

679 tons of carbon dioxide will be prevented from entering the atmosphere during the project’s 20-year lifetime.
Solar power is becoming an increasingly important part of the...
India Will Lead International Oil Demand by 2035
Oil market participants and analysts have been closely...
Oil Markets Split
Oil markets were split on Tuesday, with US crude still...
Oil Producers to Mull  Long-Term Cooperation
OPEC and non-OPEC oil producers, including Russia, will...
Iran is currently drawing crude from West Karoun block at an unacceptable extraction rate of 5-6%.
Iran's Petroleum Engineering and Development Company has...
Gas Delivery to Power Plants Cuts Pollution, Raises Revenues
Supplying natural gas to power plants, instead of liquefied...

Add new comment

Read our comment policy before posting your viewpoints