Iran to supply China trader more condensate: sources

In a new contract Chinese state trader Zhuhai Zhenrong Corp will be receving 50 percent more condensate from Iran. (Associated Press)

Chinese state trader Zhuhai Zhenrong Corp has renewed a one-year supply contract with the National Iranian Oil Company (NIOC) for 100,000 barrels of condensate, a 50 percent increase on the previous annual agreement, two people with direct knowledge of the deal said on Friday.

The agreement, which covers a year’s supply from August 2015, is separate from the two main supply contracts of predominantly crude oil between China and Iran totaling about 505,000 barrels per day.

A Zhuhai Zhenrong spokeswoman declined to give an immediate comment on the matter.

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Last Update: Wednesday, 20 May 2020 KSA 09:45 - GMT 06:45
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