Iran Oil Exports at 2.5 mbpd

Iran's export of crude oil and condensates to Asian and European markets amounted to 2.1 million barrels per day in March. According to Shana, Oil Ministry's news portal, the figure breaks down to 2.1 million barrels of crude as well as 400,000 barrels of gas condensates per day in the period. Condensate is an ultra light grade of oil extracted from South Pars, the world's largest gas field shared between Iran and Qatar in the Persian Gulf. Iran ships out nearly its entire condensate output. Reportedly, China and India are Iran's largest oil buyers, yet a large portion of the country's condensates are sold to South Korea. Shana added that a number of European multinationals like France's Total, Italy's Eni, Anglo-Dutch major Royal Dutch Shell and Greece's biggest oil refiner Hellenic Petroleum are among the National Iranian Oil Company's regular customers. Once OPEC's second-largest and the world's fourth-biggest crude supplier, the country hopes to return to its mighty days in the 1970s when it produced over 6.5 million barrels a day.