Exports of Iran's condensate, petchem affected as much as crude oil's
Iran's crude oil exports have halved since early 2012, falling from 2.2 million barrels per day (bpd) to around one million bpd, but Iran had about 0.3 mbpd of condensate exports which dropped to below 0.1 mbpd last month. An Iranian Customs Administration report published on October 2, says Iran exported only $280 million worth of condensate in the last month of the Iranian calendar (August20-September 20). This figure indicates a 55 per cent fall compared to Iran's average condensate export revenue during the current year. Iran exported $3.105 billion worth of condensate during the first five months of the current solar year which started on March 20. However this figure for the first six months increased just to $3.385 billion. In other words, Iran's monthly condensate export in the first five months was averaging around $620 million, while this figure for the last month was about $280 million which indicates a 55 per cent decrease. Iran's condensate expor