Tuesday, February 5, 2013

ENOC turns from Iran to Qatar for condensates



DUBAI, Feb 4 (Reuters) - Emirates National Oil Company (ENOC) signed an annual contract with Qatar's International Petroleum Marketing Company (Tasweeq) to buy 20,000 barrels per day of condensate, the Emirati company said, as it aims to cut imports from Iran of extra light oil.
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Dubai government-owned ENOC was the biggest buyer of Iranian condensate in the Middle East in 2012, with average imports having risen by about 20 percent to over 130,000 bpd in the first half of last year.
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But purchases have dropped in the second half as the company bowed to pressure from the U.S. officials who have for months been leaning on the company to stop buying from Iran and find alternative sources.
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