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Iran sells its 10 mln barrels of gas condensate stored in China

Business Materials 20 February 2017 13:14 (UTC +04:00)

Baku, Azerbaijan, Feb.20

By Emil Ilgar – Trend:

Iran has sold all of its 10 million barrels of gas condensate, stored in Chinese facilities since the sanctions era, Shana news agency reported Feb.20.

According to the report, Iran doesn’t have any unsold gas condensate in China anymore.

The managing director of National Iranian Oil Company Ali Kardor said Feb.4 that Iran had about 75 million barrels of unsold gas condensate, stored on tankers and storage facilities (including in China) in 2013, but the volume reached 25 million barrels now, and is expected to reach zero by April 22.

According to Shana, Iran increased its oil and gas condensate exports from 1.2 mb/d during the sanctions era (2012-2015) to the current 2.8 mb/d level.

Iran says it produces 3.9 mb/d of crude oil as well as 600,000 b/d of gas condensate.

Sanctions on Iran were removed in January of 2016.

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