Iran says no longer has gas condensates stored offshore thanks to export boom

  • World
  • Monday, 29 May 2023

TEHRAN, May 28 (Xinhua) -- The Iranian oil minister said on Sunday that Iran no longer has gas condensates stored offshore thanks to its increased exports of the product, Shana News Agency affiliated to the Iranian Oil Ministry reported.

In August 2021 when the incumbent government took office, Iran had 87 million barrels of gas condensates stored on board offshore vessels, but the country has managed to increase its oil and gas condensates exports through energy diplomacy, Javad Owji told a gathering of senior Iranian diplomats in Tehran.

Iran is now 80 percent self-sufficient in the production of the oil industry equipment, he noted.

On May 17, the Iranian oil minister said the country's oil exports have seen a two-fold growth since President Ebrahim Raisi took office in 2021 despite the "cruel" sanctions on Tehran, according to Shana.

The United States reimposed its sanctions on Iran following its unilateral withdrawal in May 2018 from a 2015 nuclear deal between Iran and world powers.

The sanctions, mainly targeting Iran's oil and banking sectors, were aimed at destroying the country's oil exports.

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