Hyundai in Talks with NIOC over Condensate Imports

South Korea’s Hyundai Chemical is in talks with the National Iranian Oil Company (NIOC) to sign long-term contracts and import condensate from the Islamic Republic, a report said.

Hyundai Chemical is still in talks with the NIOC for long-term condensate supplies, according to a report carried recently by Reuters.

The report added that Hyundai recently bought two cargoes of about 1.1 million barrels loading in June and August ahead of the start-up of its new splitter, the rep.

The first cargo arrived last month and the second cargo is expected to arrive in early September along with 1 million barrels of Qatari condensate.

The Korean company plans to purchase about 4 million barrels of condensate per month from Iran, Qatar and Australia.

(Source: Tasnim, under Creative Commons licence)

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