Iranian exporters aim to increase LPG exports to full capacity, if the Biden administration lifts sanctions that limited shipments from the country’s petrochemical plants and gas refineries, adding to healthy Middle East supply, which could drive up freight, industry sources familiar with the sector said. Assuming the US completely removes sanctions in second-half 2021, Iran .
A potential revival of the Iran nuclear deal could lift the sanctions that have crippled the country’s oil exports since 2018. The timing of such an agreement is uncertain, as is the nature of potential sanctions relief. But if a deal is reached in the next month, Iran could raise its oil exports in the second half of the year and into 2022. Iran’s return to the market could
(Bloomberg) The likely return of Iranian oil is setting up what promises to be an aggressive battle to supply a corner of the coveted Asian market.Iran is a major producer of condensates ultra-light oil that’s a by-product from natural gas fields and South Korea is Asia’s biggest operator of splitters designed to turn it into petrochemicals used to make plastics.SK Innovation Co., Hanwha Total Petrochemical Co. and Hyundai Oilbank Co. used to favor Iran’s South Pars condensate due to pl
Last week s high-level talks between Iraq, Egypt and Syria about a gas deal raised questions in Washington as Baghdad continues to successfully play off the main powers in the Middle East against each other