Korea, formerly a top buyer of Iranian condensate, has been scouring the world for alternatives since halting imports of Iranian barrels in July. It took delivery of a 500,000 barrel cargo of Libya’s Wafa condensate on the ‘Brook Trout’ on 13 October.
Whilst Korean crude and condensate imports from Iran fell from 361,000 b/d for 2017 to just 55,000 b/d for August and zero for September, volumes from alternate suppliers of condensate have soared (Korean stats don’t split crude and condensate). (CONTINUED - 168 WORDS)