Iran reports 18% rise in condensate exports

Iran reports 18% rise in condensate exports ... 03/09/2017 Import-Export

Keywords:#Europe, #IRNA, #Iran, #Iranian, #Islamic, #Islamic_Republic, #January, #Korea, #NIOC, #National_Iranian_Oil_Company, #North_Dome, #Persian, #Persian_Gulf,, #Qatar, #South_Korea, #South_Pars

Iran has reported an increase of 18 percent in exports of condensate to global markets.

* * * Iran has reported an increase of 18 percent in exports of condensate to global markets, saying its exports of the ultra light fuel over a period of five months starting 21 March 2017 – the start of the new Iranian calendar year - have exceeded 90 million barrels.
The announcement was made by Masoud Hassani, the managing director of South Pars Gas Complex (SPGC) which is responsible for the bulk of Iran’s condensate production and exports.
Hassani was quoted by Iran’s IRNA news agency as saying that SPGC condensate production over the same period had also increased by above 13 percent to reach around 87 million barrels.
South Korea is a key importer of Iran’s condensate and buys an average of 6 million barrels per month – or 200,000 barrels a day – of the crucial fuel from the Islamic Republic.
Last December, Iran announced that it was already expanding the market for its condensate – which can be used to make both fuel and plastic.
Hassani told the domestic media at the time that the country had to the same effect sent its first cargo of one million barrels of condensate to Europe.
In January, a record export level of 24 million barrels was reported with officials saying the volume had been stored over several months in tankers at sea.
On the same front, the domestic media quoted Ali Kardor, the managing director of the National Iranian Oil Company (NIOC), as saying at the time that Iran’s condensate production had reached 550,000 bpd.
South Pars gas field – which is located in the Persian Gulf – hosts the bulk of Iran’s natural gas reserves. The joint field – called the North Dome field in Qatar – is the world’s biggest largest gas field with estimated reserves of 51 trillion cubic meters of natural gas and some 50 billion barrels of condensate. Experts believe that the field has more recoverable reserves than all other fields combined.

--- ---

Read more from Source »

Related articles based on keyword density
Iran’s water crisis the product of decades of bad planning - The Washi... 03/07/2014 Nature
By Jason Rezaian July 2 at 7:00 AM Follow @jrezaian TEHRAN — Iran is headed for a water shortage of epic proportions, and little is being done to re...View Details»

German Businessmen Travel to Iran Before Sanctions Disappear - SPIEGEL... 01/11/2015 Economy
By Frank Tunnat Ahead of the planned lifting of Western sanctions against Iran, businessmen from around the world are visiting the country, and as one...View Details»

Iran eyes ‘teapots’ to clip Saudi wings ... 09/08/2016 Economy
*** This November 9, 2008 file photo shows a general view of a crude oil importing port in Qingdao, China. (Photo by Reuters) China’s independent refi...View Details»

U.S.-Iran Sanctions Give China Lead in World’s Biggest Gas Field ... 12/08/2018 Economy
By Bloomberg August 11, 2018 China National Petroleum Corp. is expected to take the lead on a $5 billion project to develop Iran’s share of the world...View Details»

Iran Plans Higher Fees for Riskier Oil Fields in New Accords Iran Plan... 25/02/2014 Economy
By Golnar Motevalli and Anthony DiPaola Feb 24, 2014 Iran will offer foreign partners incentives to find and pump more crude and natural gas and will...View Details»