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.
Iran's exports of condensates amounted to more than $1 billion in the last month, a customs official was quoted as saying on Saturday, softening the blow of Western sanctions on its crude oil sales.
Much of Iran's condensa
Petral, the trading arm of Indonesian national refiner Pertamina, bought its first Qatari condensate cargo in a tender for May delivery as it seeks to widen its crude selection, trade sources said on Monday.
Pertamina, one of the largest
State-run Abu Dhabi National Oil Company (Adnoc) is seeking to sell around 2 million barrels of condensate because of planned maintenance in October and November, an industry source said.
"The condensate will come from Uweinate, Thamama an
Qatar's plans to double the size of its condensate refinery in Ras Laffan will not only boost its capacity to pump diesel and other middle distillates but will also give it an economic edge over other regional refineries, say analysts.
Dolphin Energy has loaded its first 500,000 barrel cargo of condensate produced from its natural gas processing plant in Qatar, Dolphin said in a statement on Sunday.
The United Arab Emirates' Dolphin will export another two cargoes in Aug