All Iran’s gas-condensate reservoirs in China sold

EghtesadOnline: Iran's ten-million barrel gas condensate reservoirs used in China during sanctions era was sold out.

News ID: ۷۷۴۰۹۳

21 February 2017

Due to sale problems during sanctions era, Iran had reserved gas condensates in China reservoirs.

After lifting sanctions imposed on Iran, these consignments were sold, according to IRNA.

China as the biggest customer of Iran’s oil and gas condensates in sanctions era, have purchased 40% of Iran’s oil for exports and the figure has had growth in post-sanction era.

China imported 689,530 barrels of Iran’s oil in December 2016.

After the implementation of Iran’s nuclear deal also known as the Joint Comprehensive Plan of Action (JCPOA), Iran’s oil exports reached from 1,200,000 barrels to 2,800,000 barrels.

Iran now produces about 600,000 barrels gas condensates per day which is to reach 1 million barrels a day after finalizing all phases of South Pars oil field.

Most of Iran’s gas condensates is exported to Asian and Eropean countries.