Iran's condensate shares 35% of total oil exports to Asia

Iran's condensate shares 35% of total oil exports to Asia

By Dalga Khatinoglu

The combination of Iran's Custom Administration reports with the official statistics of its Asian buyers indicates that above 35 percent of Iran's exported oil to Asia relies on its natural gas condensate, which is called ultra-light crude oil as well.

Iran doesn't report its monthly crude oil exports and its customers do not separate the amounts of imported Iranian crude oil and condensate volume separately.

However, Iran's Custom Administrations' monthly reports about the country's non-oil exports, including gas condensate, shows a huge share of ultra-light oil in Iran's total crude oil export.

The latest custom report, released on Dec.4, says that Iran has exported about 457,000 barrels per day during last two months, while Reuters reported on Nov.29 that the four of Iran's Asian oil buyers together took in 877,888 bpd of the Islamic republic's crude in October, down 19.1 percent from the month before.

Asia's share in Iran's crude oil export is about 90 percent.

Imports of Iranian oil's four biggest buyers, China, India, Japan and South Korea, have averaged 1.11 million bpd over January-October this year.

However, Iran's custom administration's monthly reports indicate that during a 10-moth period corresponding Jan-Oct, Iran has exported averagely 394,352 bpd of the condensate export, shares above 35 percent of the total crude oil exports.

Iran's fiscal year starts on March 21.

The following figures are extracted from Iranian Custom Administration's monthly reports:

Condensate export

Volume Kilo metric tons

Value

Thousand barrels per day

Oct 23 to Nov 22

1,149

$1.018B

311.34

Nov 23 to Dec 22

1,690

$1.419B

457.94

Dec 23 to Jan 21

3,599

$2.157B

975.21

Jan 22 to Feb 20

1,095

$959M

296.71

Feb 21 to Mar 20

897

$816M

243.06

Mar 21 to Apr 20

846

$779M

229.24

Apr 21 to May21

4,095

$2.251B

1109.61

May 22 to June 21

807

$761M

218.67

June 22 to July 22

1,965

$1.388B

532.45

July 23 to Aug 22

759

$678M

205.66

Aug 23 to Sep 22

726

$657M

196.72

Sep 23 to Oct 23

1,616

$1.027B

452.48

Oct.23 to Nov.22

1,639

1.188B

458.92

Edited by CN

Dalga Khatinoglu is an expert on Iran's energy sector, head of Trend Agency's Iran news service

Follow him on @dalgakhatinoglu

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