Iran Oil Exports Hit Pre-Sanctions High in Condensate Shipments

Iran will sell another 2 million barrels, or about 66,000 bpd, of South Pars condensate each month to Hyundai Chemical in Daesan between October and December, the two sources said.

Iranian condensate will meet about 70 percent of the feedstock demand at a new Hyundai Chemical splitter jointly operated by Hyundai Oilbank Co and Lotte Chemical.

A Hyundai Oilbank spokesman declined to comment.

According to trade flow data on the Thomson Reuters Eikon terminal for Iran condensate that discharged in September, about one-third went to South Korea, with the rest going to the United Arab Emirates, India, China and Japan.

Iran's South Pars condensate is usually sold at small premiums to Dubai quotes, free-on-board, much lower than Qatari condensate, which sells at premiums of $2-$3 a barrel, trade sources said.

(Reporting by Florence Tan in Singapore and Chen Aizhu in Beijing; additional reporting by Jane Chung in Seoul and Mark Tay in Singapore; editing by Tom Hogue)