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Iranian condensate exports fall by 260%

Iran now exports 759,000 tons of condensate

Iran classes condensates as a non oil commodity, whcih has allowed the Islamic Republic to ramp up sales, despite international sanctions.
Iran classes condensates as a non oil commodity, whcih has allowed the Islamic Republic to ramp up sales, despite international sanctions.

Iran's gas condensate exports fell by 260% last month dropped to 205,000 barrels per da, according to news site Zawya.
Iran’s Custom Administration monthly report stated that Iran sold 1,965,000 tons of gas condensate two months ago, but this figure fell to 759,000 tons last month.

Iran's fiscal year started on March 21. Each of the first five months of Iran's fiscal year consists of 31-days.

Iran categorises the gas condensate as a non-oil commodity, sharing 29.82 percent of the country's total non-oil exports in value. However, if the condensate is recognised as ultra-light crude oil, then it shares about one third of Iran's total crude exports.

Before the West's sanctions imposed in mid-2012 on Iran's oil exports, the country's condensate exports amounted to 265,000 barrels per day, but decreased to 195,000 barrels on average a year later.

However, after Iran and the Six Powers' interim nuclear deal came into force in January 2014, Tehran's condensate exports soared rapidly.

Iran exported 8,805 thousand barrels of gas condensate during the first five months of the current fiscal year (477,000 barrels per day), worth around $5.875 billion.

Iran's condensate export volume during last month was the lowest since late 2013.

During first five months of the fiscal year, Iran's ultra-light crude exports increased by 106.3% in volume and 60.5% in value, according to a custom's report.

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