Iran is to supply 50% more condensate to Chinese state trader Zhuhai Zhenrong Corp under a renewed one-year supply contract for the light crude, as per sources in Reuters. This deal for National Iranian Oil Company (NIOC) to ship 100,000 bpd of condensate from August was made before Thursday's framework agreement to curb Iran's nuclear programs in exchange for ultimately dropping sanctions. China is Iran's largest oil client and the renewed contract could lift its overall crude imports to above 600,000 bpd later this year, higher than the average pre-sanction rate of about 555,000 bpd.
Dragon Aromatics is to expand its condensate splitter by nearly 40% this month, as per a source. Dragon's condensate splitter, in Zhangzhou, processes the Iranian oil into liquefied petroleum gas and naphtha, which feeds a paraxylene complex. The splitter's capacity will be raised to 137,000 bpd by the end of April from 100,000 bpd.
06-Apr-15 
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