Iran gas condensate export hits historic record



Iran's gas condensate export experienced a huge increase last month, but the overall export volume decreased by 20 percent during first two months of Iran's fiscal year.
Iran's fiscal year starts on March 20.
The country exported about 4.913 million metric tons of the gas condensate during last month, or more than 1.331 million barrels per day (mb/d) during a period from April 21 to May 22.
This is the highest level in Iran's gas condensate export in history.
Exporting above 1.3 mb/d of ultra-light oil during last month was reported while according to Reuters estimations, Iran has exported below 1.2 million barrels of oil to Asian countries in April. Iran also exports less than 0.1 mb/d of oil to Turkey.
The following tables, reported by Reuters on May 29 show Asia's Iran crude imports in bpd for April and the year to date:
Country
Apr-15
Apr-14
yr/yr pct
China
707,400
799,865
-11.6
India
264,100
224,800
17.5
Japan
68,275
56,934
19.9
S. Korea
126,033
133,433
-5.5
Total
1,165,808
1,215,032
-4.1
It's not clear why Iran's total oil export is estimated less than the country's custom statistics, which consists of only the gas condensate export, but there are three options:
- Iran's real oil export is much more than what its clients announce officially.
- Iran's exported condensate was stored in China, not sold there. (In August 2014 Iran announced that it stored about 5 million barrels in Chinese storage facilities. Iran transferred condensate there to be sold in future).
- Iran increased oil export in May 1 to May 22 significantly.
The following figures have been extracted from Iranian Custom Administration's monthly reports since October 2013:
Year
Condensate export
Volume Kilo metric tons
Value
Kilo barrels per day
2013
Oct 23 to Nov 22
1,149
$1.018B
311.34
Nov 23 to Dec 22
1,690
$1.419B
457.94
Dec 23 to Jan 21
3,599
$2.157B
975.21
2014
Jan 22 to Feb 20
1,095
$959M
296.71
Feb 21 to Mar 20
897
$816M
243.06
Mar 21 to Apr 20
846
$779M
229.24
Apr 21 to May21
4,095
$2.251B
1,109
May 22 to June 21
807
$761M
218.67
June 22 to July 22
1,965
$1.388B
532.45
July 23 to Aug 22
759
$678M
205.66
Aug 23 to Sep 22
726
$657M
196.72
Sep 23 to Oct 23
1,616
$1.027B
452.48
Oct.23 to Nov.22
1,639
$1.188B
458.92
Nov.23 to Dec.22
936
$847 M
262.08
Dec.23 to Jan.21
3,078
$2.512 B
861.84
2015
Jan 22 to Feb.21
1,719
$1.580B
481.32
Feb 22 to Mar 20
938
$ 332 M
271.1
Mar 20 to Apr 21
919
$523 M
249
Apr 21 to May 22
4,913
$1.954 B
1,331

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