Iran's gas 'condensates' top $1 billion

Iran's gas 'condensates' top $1 billion
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Published November 12th, 2012 - 07:01 GMT via

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Iranian gas condensate exports have topped $1 billion
Iranian gas condensate exports have topped $1 billion
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Iran’s exports of condensates amounted to more than $1 billion in the last month, a customs official was quoted as saying, softening the blow of Western sanctions on its crude oil sales.

Much of Iran’s condensate sales have been shipped across the Gulf to Dubai.

“(Between September 22 and October 21) $1.067 billion worth of gas condensates of South Pars were exported out of the country through the Pars Ports Complex,” said Ahmad Pourheydar, head of customs in Iran’s Pars Special Zone, according to Iran’s state news agency Irna.

“This amount of gas condensates was transported to various countries in nine shipments at a weight of more than 1.3 million tonnes,” he said. Iran’s condensate sales are its biggest source of income after crude and refined products, with Dubai its biggest buyer ahead of Asian buyers including China.

Western countries have sanctioned Iran’s energy and banking sectors as part of an effort to starve Tehran of revenues for its disputed nuclear programme. In the summer the US tightened controls on financial transactions for importing Iranian condensate. But Dubai is still buying the oil while US officials encourage the Dubai-government-owned Emirates National Oil Company (Enoc) to find another source of supply. 

Copyright 2012 Al Hilal Publishing & Marketing Group

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