Iran's sales of crude oil and gas condensate will reach 2 million barrels a day in the coming days, President Hassan Rouhani was quoted as saying, as Tehran boosts output after sanctions were lifted in January.
South Korea plans to boost imports of Iranian oil, especially condensate, this year to meet growing demand after sanctions on the Islamic nation were lifted in January.
The world's fifth largest importer of
Iran's condensate surplus available for exports is expected to hit a maximum of 600,000 barrels per day (bpd) in 2017, nearly double the current level, an official at a subsidiary of state-owned National Iranian Oil Company (NIOC) said.
Iran's condensate exports in September hit the highest monthly total so far this year, after its top client China resumed buying of the ultra-light crude for the first time in six months, two sources familiar with the matter said.
Qatar's Tasweeq has sold condensate cargoes to load in the last three months of this year at the lowest differential since the first quarter on weak demand in Asia, traders said.
Two major condensate splitt
The global oil market should be more balanced next year as China and the developing world increase oil consumption while supply of shale oil from North America and other regions grows more slowly, Opec said on Monday.
In its month
Poland's largest oil refiner PKN Orlen has delivered a gas condensate cargo of Iranian origin for its Mazeikiai refinery in Lithuania, traders said.
It's not clear if PKN has violated international sanc
Iran is set to supply 50 per cent more condensate to Chinese state trader Zhuhai Zhenrong Corp under a renewed one-year supply contract for the light crude, two people with direct knowledge of the matter said.
Qatar International Petroleum Marketing Co, or Tasweeq, plans to renew its contract to supply condensate to the United Arab Emirates (UAE) for 2015, the company's chief executive said on Monday.
Under the current 2014 contact,
Qatar's state oil marketer Tasweeq expects to cut deodorised field condensate (DFC) exports in 2016 by 30 per cent from current levels as domestic consumption increases after a new splitter comes online, a senior company official said.