Following removal of international sanctions, exports volume of Iran’s crude oil and gas condensate has climbed from 1.2 to over 2.8mb/d. As such, Iran shipped about 24m barrels of gas condensate to Asian and European markets only in January 2017, Mehr News Agency reported.

According to the National Iranian Oil Company’s (NIOC) Managing Director, Ali Kardor, a cargo of one million barrels had also been delivered to BP – what it said was the biggest such cargo that had been handed over to a European company so far, Press TV wrote.

Kardor had further said that Iran’s current production capacity of condensate – which can be used to make both fuel and plastic – stood at 550,000b/d, which marked a significant increase from the previous levels of around 325,000b/d that existed before the sanctions were lifted.

“In 2014, we had stored over 75m barrels of gas condensate over water though the figure has dropped to 25m barrels thanks to sanctions removal and exports of the petroleum product,” he continued.

The official also estimated that the amount of gas condensate stored on water will have reached zero by the end of April.