Iran might reduce its condensate shipments to Asian markets in October, the National Iranian Oil Company (NIOC) told its Asian customers, according to industry sources interviewed by Reuters.
The cuts, if they occur, will be caused by maintenance operations at Iran’s South Pars gas field, according to Reuters.
Exports could fall by as much as 1 million barrels per day (b/d), one source told Reuters. As the NIOC normally exports approximately 15 million b/d of condensates, the cuts could represent a drop off of nearly 7%.