Iran exports 24m barrels of gas condensate in January
Asian countries have always been top buyers of Iranian gas condensate but recently Europe too has joined Iran’s gas condensate customers as BP received its first one-million-barrel cargo in October 2016.
According to National Iranian Oil Company Managing Director Ali Kardor Iran is currently producing 550,000 barrels of gas condensate on a daily basis and with South Pars giant gas field going fully operational this figure will exceed 1 million barrels per day in near future.
For the time being, Iran has about 25 million barrels of gas condensate stored in floating tanker storages and it is expected this storages will be fully sold out by the end of the next Iranian fiscal’s first month (April 19).
Gas condensate was at the top of Iran’s non-oil exports list during the first 11 months of the current Iranian calendar year (March 20, 2016-February 18, 2017).
With an export value of $6.571 billion, the commodity accounted for 17.07 percent of the total 11-month non-oil exports value.