Dubai’s Emirates National Oil Company (Enoc) has started to import condensate from Qatar in a bid to replace existing supply it sources from Iran.
The move comes due to the US and EU sanctions on Iran oil exports. In 2012, Enoc imported an average of 127,000 barrels a day (b/d) from Iran, making it the Islamist republic’s largest customer.
“Enoc has already started importing condensates from Qatar to meet the current local market demand,” the company said in a statement. “The company will continue to evaluate potential new regional and international sources of alternative and economically viable condensate.”
Enoc operates a 120,000 b/d oil refinery at Jebel Ali in Dubai that processes condensate or light crude oil. It produces naphtha, jet fuel, reformate, diesel oil, fuel oil and liquid petroleum gas (LPG) for the local and international market.