Iran exports 24mn barrels of gas condensate

News ID: 3916800 -
TEHRAN, Feb. 25 (MNA) – In January 2017, Iran deployed nearly 24 million barrels of gas condensate to Asian and European countries.

Following removal of international sanctions, exports volume of Iran’s crude oil and gas condensate has climbed from 1.2 to over 2.8 million barrels per day.

As such, Iran shipped about 24 million barrels of gas condensate to Asian and European markets only in the opening month of the year 2017.

Presently, Asian states remain as largest customers of the Iranian gas condensate though delivery of a one-million-barrel cargo to BP (British Petroleum) has added the name of European firms to the list of eager purchasers.

Speaking in a recent press conference, Managing Director of National Iranian Oil Company (NIOC) said the daily output figure for Iran’s gas condensate had increased from 325 to 500 thousand barrels in the past three years.

“In 2014, we had stored over 75 million barrels of gas condensate over water though the figure has dropped to 25 million barrels thanks to sanctions removal and exports of the petroleum product,” he continued.

The official also estimated that the amount of gas condensate stored on water will have reached zero by the end of April 20.

Sales of 50 million barrels of gas condensate will bring about over two billion dollars of revenue to the country, underlined Kardor.

The production figure for Iran’s gas condensate is expected to hit one million barrels per day upon completion and operation of South Pars phases.

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