By Simon Kent.
Iraq’s Ministry of Oil have announced that 2 cargoes, one of LPG, one of Condensate, have departed the export terminals at Basra. Iraq began exporting LPG earlier this year through its Basra Gas Company Joint Venture, a consortium of Shell, Iraq’s South Gas company and Mitsubishi as the minority stakeholder. Proceeds will likely go to BGC to recover costs.
LPG exports began after Iraq’s domestic demand was met, while condensate (very high API oil in gas form that has condensed when rising to the surface) began exports in March.
(Source: Al Arabiya)