Iran's energy sector review

Iran's monthly condensate exports after the nuclear interim accord achieved on November 24 increased by 281 percent compared to previous months of the country's fiscal year. According to a report released by Iran Custom Administration on Feb.25, Iran exported 11.886 million tons of condensate during the first 11 months of the current fiscal year which began March 20, of which 7.453 million tons was exported between November 20, 2013 to February 19, 2014. Iran's monthly condensate export: March,20, 2013 to November 19, 2013 November 20, 2013 to February 19, 2014 11 months of current fiscal year Y/Y change Thousand tons 663.26 t/m 1863.25 t/m 1080 t/m 29.3 percent Barrels per day* 192,800 bbl/d 521,918 bbl/d 302,000 bbl/d 29.3 percent Value $3.926 bn $5.553 bn $9.479 bn 11.6 percent * density of the condensate: 0.75 t/m3, 1 bbl of condensate ≈ 0.119t According to the U.S. Energy Information Administration's report publi

Based on the latest reports released by international organizations, including the International Energy Agency (IEA), in January, Iran's oil exports increased by 250,000 barrels per day compared to the country's average monthly exports in 2013. Iran's monthly oil exports gradually increased in the past four months, reaching 1.32 million barrels per day (including gas condensates) in January. Iran's average oil exports were around 1.07 million barrels per day in the previous year. Gas condensates are a kind of light and expensive crude oil extracted from gas fields. Before the US-led sanctions, Iran used to produce 400,000 barrels of gas condensates per day. The country's average monthly income from exporting gas condensates was around 850 million dollars in the mentioned period. International organizations, such as IEA usually put gas condensate under the category of crude oil exports. A rise in gas condensates exports Iran Customs Administration re