Asia refiners will be increasingly focused on finding cargoes of condensate ahead of the expected shortfall or finding alternatives to condensate.
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"The pipes will continue to need condensate for the bitumen," said Alan Boras, director of communications at condensate producer Seven Generations Energy.
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Equinor has exported three of its four condensate grades in recent months to Asia as buyers of Iranian condensate sought replacements, James said.
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Australia's condensate output is also rising due to its large offshore natural gas fields which are in the process of ramping up that also produce condensate.
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ENOC processes Iranian condensate at its 140,000 barrels-per-day condensate splitter at the UAE port of Jebel Ali, which typically yields about 20 percent jet fuel.
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The figure exceeds external estimates for condensate production ranging from 1.433,21.43 to 21.8,212 bpd and suggests Nigeria's own condensate definition could keep it out of any cap.
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Qatari condensate exports have faced competition from U.S. and Iranian light oil shipments but the new splitter should help the Gulf state soak up some of its condensate at home.
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"South Korean buyers purchased less condensate from Iran because of high prices and diversified condensate import sources," said a spokesman at SK Innovation, owner of South Korea's top refiner SK Energy.
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Asia faces a supply and demand mismatch for condensate of about 200,000 barrels per day next year as Middle Eastern supply drops while demand rises and that could draw U.S. condensate.
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The Ghasha project consists of three major gas and condensate development projects - Hail, Ghasha and Dalma - as well as other offshore oil, gas and condensate fields, including Nasr, SARB and Mubarraz.
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South Korea, one of Iran's major Asian buyers, mainly buys an ultra-light oil, also known as condensate, but the crude oil data usually includes condensate without a breakdown of the imports.
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Using new condensate grades from the United States or Australia could cause technical problems, industry sources said, including the handling of residue and contaminants such as metals in U.S. Eagle Ford condensate.
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As noted, the ship is filled with an ultra-light crude condensate—a type of oil that condenses into a liquid after it's extracted (the condensate in the Sanchi came from crude oil).
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Iran's South Pars condensate is usually sold at small premiums to Dubai quotes, free-on-board, much lower than Qatari condensate, which sells at premiums of $2-$3 a barrel, trade sources said.
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Eventually they would have reached a standstill, forming another condensate.
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No one knows yet whether Sanchi is leaking its condensate.
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Splitters process condensate to obtain mainly naphtha for petrochemical production.
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The condensate returns to the boiler to repeat the cycle.
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Condensate, on the other hand, is mostly soluble in water.
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The rougher the seas, the more the condensate will dissolve.
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The petrochemical producer bought 1 million barrels of U.S. Eagle Ford condensate for November arrival, and it has also stepped up imports from Australia, recently buying Wheatstone condensate for October delivery, the sources said.
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Natural gas from the Shah Deniz offshore field was 16.8 billion cubic meters (bcm) and condensate output was 3.5 million tonnes, up from 33 bcm of gas and 2.5 million tonnes of condensate in 2018.
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Quality issues with Iran's condensate, however, limit its attraction to buyers.
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Average prices for crude oil and condensate prices also dipped 10%.
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Both the ship's fuel and the condensate could harm marine life.
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Officials don't yet know whether condensate has leaked from the tanker.
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South Korea typically switches to Qatari condensate to replace Iranian one.
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Details on the condensate loadings for November are not yet available.
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He said 600,000 bpd out of that figure were condensate exports.
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South Korea can import up to 200,000 bpd of Iranian condensate.
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Regardless, a condensate spill of this magnitude has never happened before.
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Exposure to condensate is extremely unhealthy to humans and potentially fatal.
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It is believed to still be leaking condensate and other fuels.
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Mărturiile de mai jos au fost condensate și editate pentru claritate.
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Inpex sold 350,000 barrels of Ichthys condensate to load over Sept.
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Condensate is mostly used to make vehicle fuel, such as gasoline.
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HTC had bought condensate from "nearly all alternative origins," he said.
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This includes a theorized state of matter called color glass condensate.
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Pertamina bought an Eagle Ford condensate cargo for delivery in July on behalf of the Trans-Pacific Petrochemical Indotama (TPPI) condensate splitter, the traders said, though price details and the seller could not immediately be confirmed.
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The company said its condensate handling facilities, part of the giant PNG liquefied natural gas (LNG) project, were also ready to receive PNG LNG condensate once production at the Hides gas conditioning plant comes back on stream.
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Natural gas production from the Shah Deniz offshore field was 16.8 billion cubic metres (bcm) and condensate output came to 3.5 million tonnes, up from 11.5 bcm of gas and 2.5 million tonnes of condensate in 2018.
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Natural gas production from the Shah Deniz offshore field was 11.5 billion cubic metres (bcm) and condensate output came to 2.5 million tonnes, up from 10.2 bcm of gas and 103 million tonnes of condensate in 2017.
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Natural gas production from the Shah Deniz offshore fields was 2303 billion cubic meters (bcm) and condensate output came to 2.4 million tonnes, down from 10.7 bcm of gas and 2.5 million tonnes of condensate in 2016.
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Natural gas production from the Shah Deniz offshore field was 16.8 billion cubic metres (bcm) and condensate output came to 3.5 million tonnes, up from 11.5 bcm of gas and 2.5 million tonnes of condensate in 2018.
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However, that model includes crude and other oil liquids, such as condensate.
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"No extension means no imports of Iranian condensate," an official told Yonhap.
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Other firms participating in Bolivia's condensate market include BG Group and Gazprom.
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Russian oil and gas condensate production averaged 11.1 million bpd for Jan.
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Condensate is processed at splitters to produce mainly naphtha, a petrochemical feedstock.
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Natural gasoline is an intermediate product between condensate and liquefied petroleum gas.
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The company is looking to import condensate from the market, sources said.
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It was not clear immediately if condensate export operations have been affected.
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|
Condensate oil's high volatility means it evaporates more easily than heavier crudes.
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Also, officials aren't entirely sure how much of the Sanchi's crude condensate has spilled into the sea, and given that spills of ultra-light crude condensate are rare, it's difficult to know how it will evolve from here.
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|
The company said its condensate handling facilities at Kutubu, connected to a giant Papua New Guinea liquefied natural gas (LNG) project operated by Exxon Mobil, were also ready to receive LNG condensate once the project resumes gas production.
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An updated resource report indicated proved and probable reserves of 11.2 trillion cubic feet (318 billion cubic meters) of gas and 14.6 million barrels of condensate, up from 10 tcf of gas and 13 million barrels of condensate.
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Earlier this month, Cheniere released two traders hired to head up a crude and condensate trading group, including Nelson Lee, who the company plucked from BHP Billiton, where he helped oversee the first-ever exports of U.S. condensate.
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South Korea in turn increased its condensate imports from Australia and will lift two 650,000-barrel cargoes of North West Shelf (NWS) condensate in August, the highest volume since March 2015, trade flows data on Thomson Reuters Eikon showed.
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|
A diluent recovery unit at Bruderheim would remove the blended condensate from each barrel before they are loaded onto rail cars, increasing the volume of bitumen that can be shipped and keeping the condensate in Alberta to be reused.
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Much of the oil stored was condensate, a very light grade of crude.
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Its combined natural gas liquids (NGL) and condensate output is about 400,000 barrels.
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"Iran already has plenty of stored oil and condensate in China," she said.
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Pertamina typically purchases Australian North West Shelf condensate cargoes for the TPPI splitter.
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|
Condensate is an ultra-light, low-sulphur oil typically produced with natural gas.
|
|
The rare Bolivian condensate cargo arrived in South Louisiana Port on Feb. 24.
|
|
Dr. Jin succeeded in making what she called a fermionic condensate in 2004.
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|
Weinfurtner says that her 'novel' setup can work without a Bose Einstein condensate.
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|
"The least impactful substance to spill is a condensate like this," Overton said.
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|
Total crude and condensate production for August was 22014 million barrels a day.
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|
The NEB said about 490 cubic meters of oil condensate had been recovered.
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|
Whether or not condensate is liquid or gaseous depends on temperature and pressure.
|
|
South Korean oil buyers mainly imported condensate, an ultra-light oil, from Iran.
|
|
He praised the decision by OPEC and non-OPEC nations, a group known as OPEC+, to exclude Russian gas condensate from Moscow's quotas under their latest agreement to curb output, a move that allows Gazprom Neft to expand its condensate production.
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|
"It's not easy to find condensate of similar quality to Iran's," Kim said, adding that South Korean buyers may have to spend up to 300 billion won ($270 million) to re-configure their splitters if they want to process U.S. condensate.
|
|
If condensate, a light oil, is included, shipments were about 120,000 bpd a day.
|
|
Its combined NGL and condensate output is equivalent to about 400,000 barrels per day.
|
|
The Brulpadda well encountered 57 meters of net gas condensate in Lower Cretaceous reservoirs.
|
|
One driller played down the effect, arguing condensate imports would likely be dropped first.
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|
The company has also bought U.S. and Saudi condensate since June, the data showed.
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Condensate is a type of light crude oil produced in association with natural gas.
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When spilled, the condensate can produce a deep underwater plume damaging to marine life.
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|
Crude output is currently 3.8 million bpd and condensate output 688,000 bpd, he said.
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"Having a lot of wellhead condensate production could work to your benefit," Anderson said.
|
|
The company is looking to buy South Pars condensate, one of the sources said.
|
|
A by-product of natural gas production, Iran and Qatar are major condensate suppliers.
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|
The Yinggu-2 well in Dagang yielded nearly 180,000 cubic meters of gas and 234,13 cubic meters of condensate a day while Ying-101x1 tapped daily flows of 74,000 cubic meters of gas and condensate of 318,000 cubic meters, CNPC said in January.
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Azerbaijan's crude oil and condensate production in 2015 fell 0.8 percent to 41.7 million tonnes.
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|
Iran's Persian Gulf Star Refinery converts light crude, known as condensate, into gasoline and naphtha.
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|
Officials on Friday said the ship was carrying 111,300 tonnes of condensate before the accident.
|
|
Condensate is an ultra light oil processed at splitters, typically to produce naphtha for petrochemicals.
|
|
The condensate cargo was to be delivered to South Korea's petrochemical company Hanwha Total Petrochemical.
|
|
Last month Reliance imported Forozan grade and South Pars condensate from Iran, the data showed.
|
|
The volumes were in line with the OPEC member's crude oil and condensate export plans.
|
|
This transfer causes the steam to cool, and it turns back into water, called condensate.
|
|
While condensate is water-soluble, just how much dissolves depends on a number of factors.
|
|
An expected shortfall in Asian condensate supply of as much as 200,000 barrels per day (bpd) will drive a rally in prices for next year, according to industry sources and Reuters estimates based on Asian condensate splitter capacities and traditional supply volumes to the region.
|
|
In tonnes, Russian oil and gas condensate production reached 48.44 million in December, the data showed.
|
|
Officials said earlier this month Perenco halted production at two fields for gas and condensate output.
|
|
He added that production would begin with condensate, LNG and liquefied petroleum gas in that order.
|
|
"As for condensate, Qatar and Australia are well positioned to step in" to fill Iran's shoes.
|
|
Because it's ultralight and volatile, condensate doesn't form a surface slick that can be cleaned up.
|
|
But French company Perenco has closed its Baguel and Targa fields that pump gas and condensate.
|
|
And that radiation arises from the Bose-Einstein Condensate itself, with no need for a trigger.
|
|
He created an exotic fluid called a "Bose-Einstein condensate" out of super-cooled rubidium atoms.
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|
The United States began allowing exports of light condensate in 2014, making the splitters less necessary.
|
|
Steinhauer's replica, technically called a Bose-Einstein condensate, has the same property but for sound waves.
|
|
These include Snohvit and Ormen Lange from the North Sea, Algerian condensate and U.S. Eagle Ford.
|
|
Shahbazov added he expected a production increase because of higher output of gas condensate and investments.
|
|
Complicating the calculations is uncertainty about the amount of condensate that ended up in the water.
|
|
"If so, this is the single largest environmental release of petroleum condensate in history," he said.
|
|
Overall, Aramco sees Saudi crude, condensate and natural gas liquid supplies growing through at least 2050.
|
|
Russia includes condensate pumped as a by product of gas output, while other producers do not.
|
|
As Russian gas and condensate output rises, Russia's compliance with its OPEC+ output target has slipped.
|
|
Once it becomes a liquid, there is no widely agreed way to differentiate condensate from crude.
|
|
Oil and gas condensate output in Kazakhstan fell to 244,513 tonnes per day as of Nov.
|
|
Like all fossil fuels, condensate contains toxicants which are harmful to the environment, animals and humans.
|
|
Condensate, a type of ultra-light crude oil, is a feedstock for South Korea's petrochemical industry.
|
|
Purchases from Saudi Arabia, Libya and Australia of condensate have also risen, according to SK Innovation.
|
|
South Korea, the world's fifth biggest crude importer, mainly buys an ultra-light oil known as condensate from Iran, however its intake of Iranian oil has been on the decline in recent months with the start of a new condensate splitter in Iran and lower production.
|
|
It was sailing from Iran to South Korea, carrying 136,000 tonnes of condensate, an ultra light crude.
|
|
The new system looked the way many Bose-Einstein condensate experiments look, with lasers trapping rubidium atoms.
|
|
Surface spills of condensate are therefore difficult to detect visually, making them hard to manage and contain.
|
|
Crude oil, condensate, naphtha, base and extract oils are stored at the facility, according to the company.
|
|
Trafigura is the only customer that uses the condensate splitter, under a contract it signed in 2014.
|
|
They said recovering the vessel was risky and challenging, as the remaining condensate could catch fire again.
|
|
Bunker fuel is the dirtiest kind of oil, extremely toxic when spilled, though less explosive than condensate.
|
|
Qatar is the world's biggest supplier of liquefied natural gas (LNG) and a major supplier of condensate.
|
|
The last Iranian condensate delivered into Jebel Ali was in August, according to Thomson Reuters shiptracking data.
|
|
Nigeria says the Egina field produces condensate, a type of light oil excluded from the OPEC cuts.
|
|
Iran's return would help ease tight condensate supply in a market dominated by fellow OPEC producer Qatar.
|
|
What happened: The Iranian tanker, carrying natural gas condensate, crashed into a Chinese freight ship on Jan.
|
|
The figures don't include loadings for condensate, an ultra light form of crude that Iran also exports.
|
|
Private companies producing gas and condensate in Bolivia sell their output to state-run oil firm YPFB.
|
|
Dr. Jin performed many of the early experiments characterizing the gas, known as a Bose-Einstein condensate.
|
|
South Korean companies have also bought NWS condensate loading in September and October, several trade sources said.
|
|
Aramco said its crude oil and condensate reserves were 261.1 billion barrels in its 2015 annual report.
|
|
Those would not be from the condensate, though they could be other oil from the Sanchi wreck.
|
|
Its 225.9 million barrels of condensate reserves at current market prices would be worth over $15 billion.
|
|
A310 is a naphtha grade that comes from Ras Tanura where Saudi Aramco operates a condensate splitter.
|
|
Greenpeace said it is impossible to estimate how much of the condensate has burned off or evaporated.
|
|
Iranian exports are higher if condensate, a type of light oil, is counted as well as crude.
|
|
More recently, U.S. condensate output has risen sharply due to the shale oil and gas production boom.
|
|
Before it can be used, condensate has to be stabilized by removing vapor pressure and other elements.
|
|
The condensate demonstrated a few behaviors similar to the way energy might have behaved in the inflating universe.
|
|
Recently, one scientist recreated Stephen Hawking's most famous theory of evaporating black holes using a Bose-Einstein condensate.
|
|
Russia's oil and gas condensate output averaged 22017 million barrels per day (bpd) in the period from Jan.
|
|
However, once the United States allowed for exports of light condensate in 2014, the facilities became less necessary.
|
|
Kpler, another company that tracks Iranian exports, estimated March shipments of crude and condensate at 1.29 million bpd.
|
|
The rise in condensate use as splitters start up from September could drive premiums higher again, traders said.
|
|
The scientists created an elongated Bose-Einstein condensate by trapping 8,000 rubidium atoms in a focused laser beam.
|
|
Iran's South Pars Condensate (SPC) could make up more than half of the unit's feestock, one source said.
|
|
China will not load Iranian condensate next month after loading nearly 17,000 bpd in October, the source added.
|
|
The VLCC had earlier taken on Qatari Deodorized Field Condensate (DFC) from Ras Laffan over June 4-5.
|
|
Some of the condensate may have burned off in the fires, sparing the sea, but contaminating the air.
|
|
There has been no information available on the breakdown of condensate and oil production for January in Russia.
|
|
South Korea mainly imports Iranian condensate, an ultra-light oil used to produce more expensive fuels like naphtha.
|
|
The test well produced 500,000 cubic meters of gas and 150 tonnes of condensate per day, it said.
|
|
This lack of consensus on what constitutes condensate makes it tricky to determine how much any country produces.
|
|
Fuhaichuang is seeking to buy condensate, fuel oil and mixed xylenes for the plant's restart, the sources said.
|
|
Gas condensate accounts for 7-8% of Russia's total oil production, Novak was cited as saying on Friday.
|
|
The 658-page document sees Saudi crude, condensate and natural gas liquid supplies growing through at least 2050.
|
|
Condensate is an extremely light form of oil which mostly occurs as a byproduct of natural gas production.
|
|
Zhongqiu-1 tested a daily natural gas flow of 330,000 cubic meters and condensate of 21.4 cubic meters.
|
|
Apart from costlier feedstock, Korean buyers may need to retrofit their facilities that are used to Iranian condensate.
|
|
South Korea's crude imports data includes an ultra-light oil known as condensate, but a breakdown is not available.
|
|
MOSCOW, Oct 16 (Reuters) - Production of oil and gas condensate at Kazakhstan's giant Kashagan project has decreased since Oct.
|
|
Iran exported 300,000 bpd of natural gas condensate in May, SHANA reported, and 2.4 million bpd of crude oil.
|
|
OPEC countries will maintain or increase their combined market share of crude and lease condensate production, the EIA added.
|
|
The big picture: The U.S. allowed 8 countries to buy Iranian crude and condensate over the past 6 months.
|
|
Premiums for Qatari condensate loading in February hit a record, but have since fallen back on weak naphtha margins.
|
|
Production from U.S. shale plays, which drove the bulk of the increase, primarily produce light-sweet crude and condensate.
|
|
South Korean condensate buyers were also seeking to diversify supplies should the United States impose new sanctions against Iran.
|
|
Last week, a South Korean delegation was in Iran to negotiate for 2019 supplies of mainly South Pars condensate.
|
|
Iran exported 2.4 million bpd of crude oil in May, SHANA reported, and 300,000 bpd of natural gas condensate.
|
|
Bintulu condensate, which is produced by Malaysia's state oil company Petronas, has a gravity of about 64 API degrees.
|
|
The Sanchi was carrying 136,1003 tonnes of condensate, equivalent to about 1 million barrels and worth some $60 million.
|
|
Russia would like OPEC+ to measure its performance without condensate, a request Iran's Zanganeh said on Thursday he supported.
|
|
ALMATY, Sept 16 (Reuters) - Kazakhstan's Karachaganak gas condensate field has started planned maintenance works set to last until Oct.
|
|
Incorporated and based in Singapore, the joint venture will focus on liquefied natural gas, liquefied petroleum gas and condensate.
|
|
But now, "if you start thinking about OPEC cuts, then the definition of crude and condensate becomes quite important".
|
|
Production of another condensate grade, Oso, has declined so substantially that it is blended into Qua Iboe crude exports.
|
|
Enbridge said an excavation pit that was used to contain the leaked condensate has been emptied using vacuum trucks.
|
|
Kpler, another company that tracks oil flows, put Iranian crude and condensate exports at 1.35 million bpd in December.
|
|
"There seems to be a market that is looking a bit tighter for condensate next year in Asia," Stale Endre Berg, senior vice-president of marketing and supply at Norway's oil major Statoil, said on Monday, citing the fall in supplies from the Middle East and a rise in Asian condensate splitter capacities.
|
|
The field, discovered in 2011, is expected to contain 350 bcm of natural gas and 45 million tonnes of condensate.
|
|
The No. 3 OPEC producer has more than doubled its crude exports, excluding the ultra light oil condensate, since December.
|
|
EOG Resources Inc said third-quarter crude and condensate volumes would be lower than expected at 320,000 to 330,000 bpd.
|
|
Conoco Phillips has erected a boom, deployed soaker pads to contain the condensate spill and activated its emergency response plan.
|
|
Kpler said Iran had loaded 417,000 bpd of crude and condensate onto tankers in July, down 115,000 bpd from June.
|
|
The Panama-registered tanker was sailing from Iran to South Korea, carrying 136,000 tonnes of condensate, an ultra light crude.
|
|
It's filled with 136,000 tons (about 1 million barrels) of highly volatile condensate oil worth about $60 million, reports Reuters.
|
|
The company is also increasing output at the first of three condensate splitters at the Persian Gulf Star Refinery (PGSR).
|
|
Production of liquids, such as crude oil and gas condensate, increased by 3.7%, year-on-year, to 3.04 million tonnes.
|
|
In the wake of that step, South Korean petrochemical makers are expected to scour the world to replace Iranian condensate.
|
|
The move comes about two weeks after the first condensate shipment from Ichthys' floating production, storage and offloading (FPSO) facility.
|
|
The Panama-registered tanker was sailing from Iran to South Korea, carrying 2000,22011 tonnes of condensate, an ultra light crude.
|
|
First, they needed a medium — in this case a quantum state of matter known as a Bose-Einstein Condensate (BEC).
|
|
Marubeni, which bought Iranian crude, condensate, naphtha and fuel oil until 2012, confirmed it had been working to restart purchases.
|
|
Production in September comprised 733,000 bpd of crude oil and 52,700 bpd of condensate, energy ministry data showed on Tuesday.
|
|
It was carrying 136,000 tons of condensate, a light oil, from Iran to South Korea, China's Ministry of Transport said.
|
|
"Asia should have demand for it with their (condensate) splitters and capabilities to run ultra light crudes," one source said.
|
|
MOSCOW, Feb 6003 (Reuters) - Russian oil production, including gas condensate, stood at 11.29 million barrels per day (bpd) over Feb.
|
|
Russia has been producing oil and gas condensate at a record-high pace of around 11.26 million barrels per day.
|
|
It was right of OPEC and its allies to exclude Russian gas condensate when calculating Russia's oil output, he said.
|
|
Energy consultancy FGE says it expects Iran's crude and condensate exports to drop below 1 million bpd by mid-2019.
|
|
Experts worry the ship's sinking is potentially more damaging to the marine ecosystem than letting the condensate oil burn off.
|
|
And Gazprom, the world's top natural gas producer, increased production of oil, mainly gas condensate, by 5.3 percent for the year.
|
|
This forced the state oil company to look for supplies from other regions, including Eagle Ford condensate from the United States.
|
|
A second laser increases the potential energy on one side of the Bose-Einstein condensate, making it denser on that side.
|
|
"Iran's condensate parked in floating storage has almost been exhausted because of higher purchases by Japan and Korea," the source said.
|
|
"It's a much different competitive environment now that we don't have distressed condensate," said Sandy Fielden, an analyst with RBN Energy.
|
|
After creating fermionic condensate, Dr. Jin began collaborating with Jun Ye of JILA to move beyond atoms and study ultracold molecules.
|
|
The tanker was carrying 136,000 tons of condensate, a light oil, to South Korea from Iran, China's Ministry of Transport said.
|
|
The bottles are also cupholder friendly, don't condensate, and are designed in a way that makes them easy to keep clean.
|
|
Kazakhstan filed a $1.6 billion claim against foreign firms developing the Karachaganak gas condensate field, one of the companies has said.
|
|
He added that his plant had shifted to replacements such as North Sea Forties crude, Australian condensate and oil from Russia.
|
|
South Korean companies had to pay high premiums to secure enough Qatari condensate to meet more than half of their demand.
|
|
The Burgos Basin contains about two thirds of the country's technically recoverable shale reserves, estimated at 545 trillion cubic feet (TCF) of gas and 13.1 billion barrels of oil and condensate, compared to the 665 TCF of gas and 58 billion barrels of oil and condensate in the United States, according to the U.S. Energy Information Administration.
|
|
The field, discovered in 2011, is expected to contain 350 billion cubic metres of natural gas and 45 million tonnes of condensate.
|
|
The Sanchi was carrying 136,000 tonnes of condensate to South Korea, equivalent to about 1 million barrels and worth about $60 million.
|
|
The Sanchi, which was sailing from Iran to South Korea, carrying 136,000 tonnes of condensate, an ultra light crude, sank on Jan.
|
|
DUBAI, Aug 20 (Reuters) - Qatar Petroleum concluded a five-year agreement to supply condensate feedstock to ExxonMobil Trading Asia Pacific Pte. Ltd.
|
|
Data from Refinitiv Eikon put crude shipments at a similar rate and at 2115,2000 bpd if condensate, a light oil, is included.
|
|
Each team's goal, then, was to take their Bose-Einstein condensate and impart it with the rigid properties of a true solid.
|
|
They kept their condensate, of rubidium atoms, in a cavity between pairs of mirrors with light particles, photons, bouncing back and forth.
|
|
The company estimates its land holds crude, condensate and gas reserves that combined are the equivalent of 96 million barrels of oil.
|
|
The splitter will boost demand for condensate in the region, helping buoy premiums that are already expected to remain firm through 2017.
|
|
SINGAPORE (Reuters) - Chevron Corp could this month start selling condensate produced at the Australian Gorgon gas field, trade sources said on Thursday.
|
|
It also operates Block 05-3/11 with initial resources of 28 bcm of gas and 18 million tonnes of gas condensate.
|
|
Hanwha Total Petrochemicals, another South Korean condensate buyer, is considering whether to resume imports from Iran from April, a company spokesman said.
|
|
Japanese refiners Cosmo and JX Nippon have bought U.S. crude and condensate respectively, added Kimura who is also chairman of JX Holdings.
|
|
Iran's exports peaked at 2.8 million barrels per day (bpd) in April, including 300,000 bpd of condensate, a lighter form of oil.
|
|
Nigeria says the Egina field produces condensate, a type of light oil excluded from the OPEC cuts which only apply to crude.
|
|
PGSR has a condensate splitter but traders say it is only making sporadic offers now as its secondary units are not ready.
|
|
The condensate, or ultra light oil, is typically processed at refining units known as splitters to extract heavy naphtha for aromatics production.
|
|
Baru said the condensate project was part of strategies aimed at eliminating imports of petroleum products and guaranteeing energy security in Nigeria.
|
|
Iraq has increased shipments of crude and condensate to India by 80,000 bpd this year as Venezuelan deliveries fell by 84,000 bpd.
|
|
Iran, a member of the Organization of the Petroleum Exporting Countries, does not publish monthly data on its condensate and crude exports.
|
|
Experts say there has never been so large a spill of condensate; up to 111,000 metric tons has poured into the ocean.
|
|
The Sanchi was carrying 136,000 tonnes of condensate before the accident, most of which evaporated after the stricken shipped burned for days.
|
|
The 73,000 barrel per day El Feel oilfield contributes to Libya's Mellitah crude oil blend along with condensate from the Wafa field.
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The new draft U.N. resolution would ban exports to North Korea of crude oil, condensate, refined petroleum products and natural gas liquids.
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The splitter processes condensate into naphtha, which is then used to produce paraxylene, a chemical used in making polyester fibre and plastics.
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South Korea is a large buyer of Iranian condensate, a super light form of crude oil, used by its large petrochemical industry.
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Iran's exports peaked at 265 million barrels per day (bpd) in April, including 300,000 bpd of condensate, a lighter form of oil.
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Whether escaped condensate causes an oil spill or not depends on whether it has vaporized, burnt off, or escaped in liquid form.
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More than 62 bcm of gas and 53 million tonnes of oil and gas condensate have been produced at the field since 1975.
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What the scientists created is called the Shankar skyrmion, a three-dimensional, tangled, closed, synthetic magnetic field formed in a Bose-Einstein condensate.
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The company's purchase helped put a floor under condensate premiums, which have recently come under pressure due to weak naphtha margins, they added.
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Hyundai Chemical bought two cargoes of deodorized field condensate (DFC) from traders at $2-$2.50 a barrel above Dubai quotes, the sources said.
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All 32 crew members are thought to have died aboard the Iranian vessel "Sanchi," which was carrying about 1 million barrels of condensate.
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The oil that's washing ashore was used as fuel for the Sanchi; it's not the ultra-light crude condensate the ship was transporting.
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South Korea, the world's fifth-biggest crude oil buyer, mainly purchases an ultra-light form of crude oil from Iran known as condensate.
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Total said it had made a significant gas condensate discovery after drilling its Brulpadda prospects on Block 11B/12B in the Outeniqua Basin.
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The Panama-registered tanker was sailing from Iran to South Korea, carrying 136,000 tonnes of condensate, an ultra-light and highly volatile crude.
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Midstream companies rushed to build condensate splitters, which break light oil into products such as naphtha and unfinished distillates, during the shale boom.
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Loadings of condensate in January are set to reach about 385,000 barrels per day (bpd), down from an estimated 13,000 bpd in December.
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Last year, robust South Korean demand helped spark a recovery of Iranian crude and condensate exports to a five-year high in September.
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El Feel and Wafa field condensate make up the Mellitah blend which is exported from Mellitah terminal operated by NOC and Italy's ENI.
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Refiners are designed to use specific qualities of crude, and Korean facilities are geared for Iranian condensate, a super-light form of crude.
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An 890 kilometer pipeline is set to transport gas and condensate from the field to onshore facilities near the northern city of Darwin.
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"We will increase oil and natural gas (liquids) imports from Iran, especially Iranian condensate," South Korea's trade and energy ministry said on Tuesday.
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He added that the company would have to see if Iranian condensate fits well at their plant before they sign a term contract.
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Total will be paid not in cash but in condensate, a very light crude oil which is a by-product of gas production.
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The 30,000 bpd diesel hydrotreater began receiving feed from the condensate splitter on Monday night, restoring it to normal operation, the sources said.
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Kazakhstan filed a $1.6 billion claim against foreign firms developing the Karachaganak gas condensate field in 2015, one of the companies has said.
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Iranian condensate exports to top customer South Korea will rise to nearly 186,000 bpd from about 153,000 bpd in October, the source said.
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Kinder Morgan Canada will continue to own the remaining assets, including crude storage, rail terminals and a condensate pipeline, and look to expand.
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South Korea can buy up to 200,000 barrels per day of Iran oil, mostly condensate, according to sources with knowledge of the matter.
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In any case, the discoveries suggested the condensate may have already reach Japan's third most important fishery, teeming with bonito and yellowfin tuna.
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IEA notes that a shipment of U.S. condensate, a super light oil blended with heavier crude, recently arrived in the United Arab Emirates.
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Late last year, the Paris-based International Energy Agency began counting another Nigerian grade, Agbami, with 220,000-250,000 bpd of exports, as condensate.
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Recoverable crude oil and condensate reserves, meanwhile, totaled 28.3 billion barrels at the end of 2920, little changed from 2794 billion in 22015.
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The Panama-registered tanker was sailing from Iran to South Korea, carrying 136,000 tonnes of condensate, an ultra-light form of crude oil.
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In December, total oil and gas condensate stood at 264.04 million bpd, up from 11.244 million bpd in November, according to the data.
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The Olympic Luck later transferred the Eagle Ford condensate onto Aframax tanker Kara Sea and the oil was sold to Chinese refiner Hongrun Petrochemical.
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According to Chanda Prescod-Weinstein, a theoretical physicist at the University of Washington, axions could theoretically condense into something like a Bose-Einstein condensate.
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This time around, the chip containing the Bose-Einstein condensate experienced six minutes of microgravity at 243 kilometers (151 miles) above the Earth's surface.
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Abu Dhabi National Oil Co (ADNOC) bought a U.S. Eagle Ford condensate cargo in a tender for September arrival, the sources said on Wednesday.
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Condensate is a byproduct of natural gas production and the oil is processed at refining units to produce mainly naphtha, a petrochemical raw material.
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Kazakhstan's January-May output of oil and gas condensate rose 9.5 percent year-on-year to 35.457 million tonnes, data released on Tuesday showed.
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SINGAPORE (Reuters) - Indonesia's state energy company Pertamina bought a condensate cargo from the United States in a rare move, trade sources said on Tuesday.
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The tanker, owned by National Iranian Tanker Co, was carrying almost 1 million barrels of condensate, an ultra-light crude oil, to South Korea.
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The company also said it was well-hedged through 2017 for condensate and has been "opportunistic" on its purchases of the ultra-light oil.
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South Korea mainly buys an ultra-light oil from Iran, also known as condensate, but the data does not provide a breakdown of imports.
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Data from Refinitiv Eikon put crude shipments at about 2000,000 bpd and exports of crude and condensate, a light oil, at about 400,000 bpd.
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That is so blisteringly brisk that the atoms inside the laboratory will form the rare form of matter known as a Bose-Einstein condensate.
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Canadian condensate demand is about 650,000 barrels a day, of which 350,000 bpd is produced domestically with the rest imported from the United States.
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Revenue was up 22.5 percent to 139.4 billion rubles, largely due to an increase in sales of liquids, mainly crude oil and gas condensate.
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The Asian nation has increased purchases of Qatari condensate after the Middle East country offered more of the fuel for exports, according to traders.
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The Netherlands loaded nearly 30,000 bpd of condensate last month, the source said, marking its first lifting from Iran following the lifting of sanctions.
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Reliance Industries Ltd, which halted supplies from Iran in 2010, is preparing to lift a million barrels each of condensate and oil next month.
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In 2018, 21 million barrels per day (bpd) of oil (crude, petroleum products, condensate) flowed through it, according to the U.S. Energy Information Administration.
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This is much more energy than can be supplied in a Bose-Einstein condensate, which has been chilled to the point of profound sluggishness.
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Chevron, through its units in Bangladesh, produces natural gas and condensate from three fields in the northeast of the country, according to its website.
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Purchases of African crudes increased to 11.66 million barrels in February, the highest volume since October including Nigerian condensate, according to the same data.
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Iranian ports loaded 2.153 million barrels of crude and 23,000 bpd of condensate in September, according to Thomson Reuters Supply Chain and Commodities Research.
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Including condensate, an ultra-light form of crude, shipments peaked around 3 million bpd in mid-2018, according to trade data in Refinitiv Eikon.
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Last week, Dana said the court ordered the KRG to pay $121 million to a consortium including it for condensate and liquefied petroleum gas.
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Crude from El Feel is blended with condensate from the Wafa field to form the Mellitah blend, which is exported from the Mellitah terminal.
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When the Sanchi crashed, the ship started leaking a type of oil called natural gas condensate, although we still don't know exactly what type.
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In that case, the firm set up a new entity which leased ADNOC's interests in its crude and condensate pipelines to the investment firms.
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The tanker was carrying condensate, an ultra-refined, highly volatile form of ultra light crude oil used to make products such as jet fuel.
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"The blocks on offer include highly prospective exploration opportunities, an undeveloped oil discovery, and a mature gas condensate redevelopment opportunity," the RAK government said.
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Neither Nigeria's state oil company, NNPC, nor its Ministry of Petroleum, responded to Reuters requests for comment on its production or definition of condensate.
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Magellan Midstream Partners on Thursday said it had suspended operations at its terminal and condensate splitter in Corpus Christi ahead of Tropical Storm Harvey.
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MOSCOW, Nov 2000 (Reuters) - Oil and gas condensate output from Kazakhstan's giant Kashagan project has fallen to 320,000 barrels per day (bpd) since Nov.
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It allowed South Korea to buy limited amounts of Iranian oil, mainly condensate — an ultra-light form of crude oil used for petrochemical products.
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Australia's North West Shelf (NWS) condensate exports will drop to three cargoes in Sept due to maintenance activities in third quarter, trade sources said.
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The company has also been in talks with the National Iranian Oil Company to secure annual supplies of South Pars condensate, the sources had said.
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Eagle Ford condensate of different API gravity are sold in Asia and the affected cargoes are the lighter oil of API at about 52 degrees.
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The Capercaillie well was drilled to a total depth of 3,750 meters and encountered light oil and gas-condensate in Paleocene and Cretaceous-age reservoirs.
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The Cochin pipeline can carry 95,000 barrels per day of U.S. condensate - an ultra-light oil - into Alberta to dilute the heavy crude it produces.
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South Korea is heavily reliant on Iran supplies as its petrochemical facilities are designed to use Iranian condensate, a super-light form of crude oil.
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Iran's jump to the No.2 spot is also due to solid condensate demand from South Korean refiners such as SK Energy and Hyundai Oilbank.
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Norwegian oil production has fallen for the last two months, with the country producing 1.8 million barrels of oil, natural gas and condensate in June.
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But Cosmo and TonenGeneral, which have bought U.S. condensate previously, are among the more adventurous Asian buyers who are willing to experiment with new grades.
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KMG accounts for 28 percent of the total crude oil and gas condensate production volume in Kazakhstan and 16 percent of natural and associated gas.
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The state company also bought two cargoes of Equatorial Guinea's Alba condensate for delivery in July and early August through two separate tenders, traders said.
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The tanker, filled with 130 tons of highly volatile condensate crude, has been burning for the past three days, raising fears of an environmental catastrophe.
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NIOC has informed buyers in Asia that it could reduce condensate exports in October because of the maintenance at South Pars, industry sources have said.
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FGE analyst Den Syahril estimates that Iran has been holding about 20 million barrels of South Pars condensate in storage since August as demand fell.
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In addition, the company announced on Monday that it started producing liquefied natural gas and condensate at its Gorgon Project on Barrow Island off Australia.
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Ken Douglas, Centurion's chief financial officer, said the deal will expand the Dallas-based company's Permian Basin crude oil and condensate marketing and logistics operation.
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The fields also hold about 226 million barrels of condensate, an ultra-light form of crude oil that would help make the development more profitable.
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Iranian condensate imports could gain further momentum in the fourth quarter, if Iran clinches a deal with Hyundai Chemical to supply the company's new splitter.
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Simpler and less sophisticated than refineries, they convert condensate into unfinished distillates and naphtha, a building block for gasoline that also can dilute heavy crude.
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"Probably the whole decision on whether to build another condensate splitter on the Gulf Coast comes down to how those guys make out," said Fielden.
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The purchases were part of Hanwha Total's efforts to replace Iranian condensate ahead of renewed sanctions on Iran in November, one of the sources said.
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Iran sold 2550,2000 bpd of condensate for September, including about 22,266 bpd shipped from storage, to meet robust demand in Asia, the two sources said.
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Operator Ineos declared force majeure on crude oil, gas and condensate deliveries from the pipeline, a source familiar with the matter told Reuters on Wednesday.
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Mining output in December fell 3.9% from a year earlier, data from the Statistics Department showed, on declines in the crude oil and condensate indexes.
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Nigeria's September crude oil and condensate output was 2.1-2.2 million barrels per day (bpd), the director of its state oil company said on Tuesday.
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The Energy Information Administration (EIA) estimated that 76% of the crude oil and condensate that moved through the chokepoint went to Asian markets in 2018.
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SINGAPORE, Sept 20 (Reuters) - Inpex Corp, Japan's top explorer, has sold its first condensate export cargo from the Ichthys project in Australia, trade sources said.
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Earlier on Wednesday Cenovus reported a first quarter loss and said bitumen realizations from its oil sands projects took a hit from high condensate prices.
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Condensate, which is made up of a mixture of hydrocarbons, is lighter than the thick black crude oil associated with spills such as Exxon Valdez.
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Novak said Russia's average cut was 21,260 bpd in November but by excluding condensate its output cut could be about 22020,000-230,000 bpd in December.
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Novak said Russia's average cut was 195,000 bpd in November but by excluding condensate its output cut could be about 225,000-603,000 bpd in December.
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One sticking point for Russia this time is how its output is measured it includes gas condensate in its figures, while other producers do not.
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One sticking point for Russia this time is how its output is measured it includes gas condensate in its figures, while other producers do not.
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One sticking point for Russia this time is how its output is measured – it includes gas condensate in its figures, while other producers do not.
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"Nigeria does produce quite a bit of condensate, but apart from Akpo it's not really measured because it's blended into crude," Wood Mackenzie's Anderson said.
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Russian energy ministry data showed that oil and gas condensate production stood at 220 million bpd in December, up from 267 million bpd in November.
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"If oil sands plays decline or people shut in production ... then the demand for local condensate could drop and that will impact the price," said Crothers.
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Motamed said last week that the first shipment of gas condensate from phase 13 was delivered on March 11 for export prior to its formal inauguration.
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Most recently, one team observed that, under the right conditions, they could cause a Bose-Einstein Condensate to emit a burst of jets like microscopic fireworks.
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Packed with 1,173 tons of diesel fuel and 110,000 tons (810,000 barrels) of ultra-light crude condensate, it's considered the worst oil tanker disaster in decades.
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South Korea mainly purchases an ultra-light form of crude oil, known as condensate, from Iran, and its data does not give a breakdown by products.
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The audit office questioned the eligibility of deductions claimed for the cost of debt and equity funded capital and the excise paid on crude and condensate.
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Trying to contain a spill of condensate, which is extremely low in density, highly toxic and much more explosive than normal crude oil, may be difficult.
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Energy consultancy FGE said "400,000 to 500,000 barrels per day of crude and condensate will continue to be exported," down from around 1 million bpd currently.
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Another country relying heavily on Iranian supply is close U.S. ally South Korea, where petrochemical facilities use Iranian condensate, a super-light form of crude oil.
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ADNOC used to receive 1 million to 1.5 million barrels of Qatari condensate every month under a term agreement with Qatar Petroleum, trade sources said earlier.
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Separately, Magellan Midstream executives said the company was evaluating a new pipeline to transport crude and condensate from the Permian Basin to Corpus Christi in Texas.
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ConocoPhillips first reported the leaking of condensate, an ultra-light hydrocarbon, from a 7.25-kilometre (4.5-mile) pipeline near its Resthaven gas plant on June 23.
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Condensation is easy enough to make happen when the collection material is already wet with the condensate, but not so much when the material is dry.
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Average realized prices for crude oil and condensate in North America was $1.192 per barrel in the quarter, up from $41.35 per barrel, a year earlier.
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This could be the first time Pertamina has bought a condensate cargo from the United States, two of them said, though this could not be verified.
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A tanker tracking source confirmed the Sinopa had left and was likely to be carrying condensate, adding that it was unclear if Serena was carrying crude.
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"All the [ISS's] water is recycled and that's from urine, condensate, sweat, everything," Sarah Wallace, a microbiologist and the manager of the sequencing project told Gizmodo.
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It's not the first time scientists have made a "sonic" black hole, but using a Bose-Einstein condensate is ideal for hunting for Hawking-type radiation.
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This crude condensate, which is used to make products like petrol, jet fuel, and heating fuels, is colorless and odorless, but more flammable than conventional oil.
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South Korea said on Monday it had been granted a waiver, at least temporarily, to import condensate, a super-light form of crude oil, from Iran.
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By processing ultra light oil condensate, the splitter can also produce about 50,000 barrels of refined products including diesel and jet fuel, according to the statement.
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France's Total said in February it had found about 1 billion barrels of hydrocarbon resources, including a significant gas condensate resource, off South Africa's east coast.
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SINGAPORE, July 26 (Reuters) - * ConocoPhillips has sold 300,000 barrels of Malaysia's Kimanis condensate to Exxon Mobil for September-loading, two trade sources told Reuters on Friday.
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It is operated by Mellitah Oil and Gas, a joint venture between the NOC and Italy's Eni, and produces crude oil, condensate and natural gas liquids.
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Iran's October crude oil and condensate exports are set at 2.56 million bpd, according to the preliminary tanker schedule, down from 2.60 million bpd in September.
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The world's fifth largest importer of crude is also a big buyer of condensate, a super light oil that can be processed into fuels and petrochemicals.
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LONDON (Reuters) - Ineos has declared force majeure on crude oil, gas and condensate deliveries from its Forties pipeline, a source familiar with the matter told Reuters.
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Exports of crude and condensate — a grade of ultra-light crude oil — hit 21970 million barrels a day last month, according to data from Tanker Trackers.
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NIOC drew on condensate stocks from floating storage and onshore tanks in September to help meet growth in demand from China, South Korea, Japan and India.
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Iranian condensate will meet about 70 percent of the feedstock demand at a new Hyundai Chemical splitter jointly operated by Hyundai Oilbank Co and Lotte Chemical .
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"As the condensate market is getting stronger, refiners are likely to turn their interest to light crude," an official from a South Korean petrochemical producer said.
|
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Loadings of Iranian condensate in June rose to about 408,000 barrels per day, the highest volume since sanctions on Iranian oil exports were lifted in January.
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But its condensate exports had been dented due to a "technical problem" at the South Pars field, with maintenance likely to take for 22.97-2.970.71 months.
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The Sunrise and Troubadour gas fields, together known as Greater Sunrise, hold around 5.1 trillion cubic feet of gas and about 226 million barrels of condensate.
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That puts Nigeria on target to exceed its 2017 goal of producing an average of 2.2 million barrels of oil and condensate a day, Baru said.
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The company said on Wednesday that its oil and gas condensate production rose by 13 percent in the first quarter to 4.62 million barrels per day.
|
|
Hyundai Oilbank operates the 520,000 barrels-per-day (bpd) Daesan refinery, located in the southwestern part of the country, along with a 170,000-bpd condensate splitter.
|
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The ship was carrying condensate, a highly flammable ultra-light crude, to deliver to South Korea when it collided with a Chinese freight ship on Saturday.
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|
The Sanchi was carrying 136,000 tonnes of condensate, an ultra-light crude oil that becomes highly volatile when exposed to air and water, to South Korea.
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|
On Wednesday, rival Magellan Midstream Partners said it was evaluating a new pipeline to transport crude and condensate from the Permian Basin to Corpus Christi, Texas.
|
|
According to the data, oil and gas condensate output at small producers jumped last year by almost 67.213% to 267.21 million tonnes, or 22.17 million bpd.
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With Iranian condensate in the past years making up more than half of Korea's overall supply, the shortfall is forcing Korean buyers to seek alternative supplies.
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Australia's crude and condensate production has been below 300,000 barrels per day (bpd) since September 2016, data from the country's Department of the Environment and Energy showed.
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The team is now reporting the results of that launch, which allowed them to perform an incredible 110 experiments on the chip containing their Bose-Einstein condensate.
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|
After cosmic inflation, the hypothetical oscillating, space-filling condensate would have quickly transformed into a dense field of quantum particles all moving with the same characteristic speed.
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Husseini said Saudi Arabia would probably burn condensate, light crudes or even diesel for electricity generation rather than medium or heavy crude, which can damage power plants.
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"400,000 to 500,000 barrels per day (bpd) of crude and condensate will continue to be exported," said energy consultancy FGE, down from around 1 million bpd currently.
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"400,000 to 500,000 barrels per day (bpd) of crude and condensate will continue to be exported," said energy consultancy FGE, down from about 1 million bpd currently.
|
|
Nostrum also said on Monday it would buy 50% of Positive Invest LLP, the owner of the Stepnoy Leopard licenses, securing additional undeveloped, material gas condensate resource.
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|
"A total of 400,000 to 500,000 barrels per day of crude and condensate will continue to be exported," said FGE, down from around 1 million bpd currently.
|
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Kpler, another service tracking oil movements by tanker, said Iran had loaded 417,000 bpd of crude and condensate onto tankers in July, down 115,000 bpd from June.
|
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This oil slick comes from the Sanchi's 1,000 tons of diesel fuel, and not the 0003,000 tons of Iranian ultra-light crude condensate contained within its hull.
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Some 215,000 tonnes were imported in Greece in May-June, the data shows, while one cargo of Eagle Ford condensate was unloaded in Croatia's Omisalj in May.
|
|
The trading house has signed a long-term agreement with Plains to ship a total of 300,000 bpd of crude and condensate on the Cactus II pipeline.
|
|
However, ENOC's alternative condensate supply yields less jet fuel than the Iranian grade, said one of the three sources, which is reducing the overall jet fuel volumes.
|
|
The world's fifth-biggest crude oil importer has increased its imports of Iranian crude, mainly condensate, or an ultra-light oil since sanctions were lifted in 2434.
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The third-largest buyer of Iranian oil in Asia has restricted its purchases to only condensate, an ultra light oil used in producing naphtha for petrochemical production.
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"Azerbaijan intends to increase condensate production at such fields as Absheron, Umid, Babek and others by that date, which will increase loading at the refinery," he said.
|
|
A trader related to condensate deals said more imports will be difficult to see in March as spreads have changed in recent weeks, making purchases more expensive.
|
|
Before the suspensions, South Korea had been the largest buyer of Iranian South Pars condensate (SPC) with imports as high as 6 million barrels in June 2017.
|
|
But South Korea's oil imports from Iran have declined since November 2017 as Iran's condensate exports had been dented by a "technical problem" at South Pars field.
|
|
Japan and South Korea were among the top five buyers of Iranian crude and condensate before they stopped imports in the third quarter ahead of the sanctions.
|
|
Fuji Oil Co, one of Japan's top Iranian oil buyers, plans to resume Iran crude liftings from January as well, and is also looking to buy condensate.
|
|
That put the month's total at 2.639 million bpd - excluding the condensate loaded out of storage - up from 2.472 million bpd in August, the Reuters data showed.
|
|
Condensate sales could reach 800,000 bpd in October, in excess of production at about 550,000 bpd, one of the sources said, suggesting further draws from floating tankers.
|
|
The country's condensate exports are expected to drop to 480,000 bpd in 2017, from 560,000 bpd this year, according to a forecast from Asia Pacific Energy Consulting.
|
|
Still, the start-up of new and existing splitters in Asia and the Middle East is expected to drive demand for Iranian condensate later in third quarter.
|
|
South Korea's Hyundai Chemical will also need to buy more condensate from September onwards for its new splitter, which could come into operation in October, he said.
|
|
That is because of its remote location on the high seas and also the type of petroleum involved: condensate, a toxic, liquid byproduct of natural gas production.
|
|
Gas condensate, a light oil, has been excluded from Russia's production quota in a global pact aimed at curbing oil production and balancing out the energy markets.
|
|
Akpo, the only substantial Nigerian grade that trading and analyst sources told Reuters is marketed as condensate, is typically exported at a rate of 100,000-133,1.83 bpd.
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Prelude will produce 3.6 million tonnes a year of LNG, 1.3 million tonnes a year of condensate and 400,000 tonnes a year of liquefied petroleum gas (LPG).
|
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The sinking will likely expel the remaining condensate and the tanker's bunker fuel, or the heavy fuel oil that powers a ship's engines, contaminating the surrounding waters.
|
|
For South Korea, the shift could help deepen ties with its closest political ally, the United States, where production of condensate, and also naphtha, is growing fast.
|
|
South Korea's hunt for condensate to replace Iranian supplies is also expected to intensify later this year as waivers from U.S. sanctions start to expire in May.
|
|
Azeri state energy company SOCAR said in 25 it had found at least 2200 bcm of gas and 30 million tonnes of gas condensate at the Umid field.
|
|
NOC declared force majeure on loadings of Sharara crude from the Zawiya oil terminal in the west of the country and Wafa condensate loadings from the Mellitah terminal.
|
|
First, the researchers trap and cool cesium atoms in a disk less than ten micrometers in radius with a pair of lasers—this is the Bose-Einstein condensate.
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WTL is so light that it is nearly considered condensate, a type of oil that generally requires blending with very heavy crude for U.S. refiners to process it.
|
|
That includes phonons stretching as the condensate expanded, called "redshifting," and energy of the expansion turning into vibrational disturbances reminiscent of the particles supposedly created as inflation ended.
|
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"We ... are particularly encouraged by the combination of strong productivity in the Permian and robust condensate rates," Raymond James analyst Chris Cox said in a note to clients.
|
|
NUMBER OF THE DAY $40 billion Iran says it has discovered a new natural gas reserve with the capacity to produce nearly 400 million barrels of gas condensate.
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The ship, which was carrying 136,000 tonnes or almost a million barrels of condensate - an ultra-light, highly flammable crude oil - sank after several explosions weakened the hull.
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|
In addition to U.S. crude, Phillips 66 has been marketing Black Hawk condensate and it also regularly sells heavy naphtha from the United States to Asia, traders said.
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Barossa is an offshore gas and light condensate project in Australian territorial waters in the Timor Sea, 300 km (186 miles) north of the northern city of Darwin.
|
|
According to Vygon Consulting, an independent analytical firm, Russian oil and gas condensate production may reach 544.6 million tonnes this year, rising to 565 million tonnes in 2017.
|
|
ADNOC bought 6.5 million barrels of condensate in the tender with the bulk of the supplies coming from the United States, a source familiar with the matter said.
|
|
Iran's total crude oil and gas condensate sales will reach 2 million bpd "in the coming days", Iranian President Hassan Rouhani said last week, according to Iranian media.
|
|
The circle of condensate suppliers is small, though, and Australia has the inside track on selling to Asia, especially with some Middle East producers building their own splitters.
|
|
"The outlook is quite pessimistic (for buyers) as sweet condensate supplies are very limited," said an Asian oil buyer who declined to be named due to company policy.
|
|
Sources say as many as 22 to 25 tankers are holding oil, both crude and its derivative condensate, which is expected to hit world markets at some stage.
|
|
"Consistent with our plan, we expect significant high-margin oil and condensate growth in the second half of 2018," said Encana Chief Executive Doug Suttles in a statement.
|
|
South Korea was granted six-month waivers from the United States in November to buy oil from Iran, mostly condensate, or an ultra-light form of crude oil.
|
|
The ship, which had been carrying 136,000 tonnes - almost 1 million barrels - of condensate, an ultra-light, highly flammable crude oil, sank after several explosions weakened the hull.
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He said the environmental impact would be less severe than for a heavy crude spill, however, as condensate evaporates quickly and would not cause a major oil slick.
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The company said it has the ability to produce more condensate, a very light oil that is used in blending and is not included in Alberta's production caps.
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Naimi effectively won the battle, as Aramco offered to oil majors pure upstream gas exploration contracts without gas condensate and only Shell and Total entered into a deal.
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Condensate instead of crude oil will drive Iran's export growth for the remainder of 2016, thanks to developments at its giant South Pars gas field, the sources said.
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Qatar will reduce its condensate exports by a third from January once the Ras Laffan splitter begins operating, an official at state-owned Qatar Gas said in June.
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Splitters are oil refining units that break down the condensate into diesel fuel and naphtha that is mainly used as a raw material to make petrochemicals like plastics.
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"There could be a rebound (in condensate prices) in September because naphtha cracks are showing some signs of a rebound," a trader with a North Asian firm said.
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A planned restart of Singapore's Jurong Aromatics complex and the commissioning of Qatar's new splitter could tighten Qatari condensate supplies and drive demand for Iranian oil, traders said.
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Dragon Aromatics, a petrochemical producer based in Fujian province, has also received import quota of 600,000 tonnes as it resumes operations at its condensate splitter, the sources said.
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In Iran, NIOC will reduce its gasoline imports and condensate exports once the first phase of its Persian Gulf refinery starts up by end-March 2017, he said.
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Since all the atoms have the same energy levels at that point, these effectively motionless atoms condense into a state of quantum matter called a Bose-Einstein condensate.
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Thailand, one of the biggest refining centres in southeast Asia, can process 1.229 million barrels per day of crude and condensate, according to the Petroleum Institute of Thailand.
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The decline is mostly attributable to a fall in condensate exports as South Korea cuts purchases of the ultra-light oil and reduced crude liftings from European customers.
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"While overall Asian demand should improve, growing refinery and condensate splitter runs in both Asia and the Middle East will keep the market well-supplied," said FGE's Paravaikkarasu.
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The Organization of the Petroleum Exporting Countries does not publish a figure, reporting only the crude output of its 14 members, and NNPC also publishes no condensate numbers.
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The ship, which was carrying 136,000 tonnes or almost 1 million barrels of condensate - an ultra-light, highly flammable crude oil - sank after several explosions weakened the hull.
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Thailand, one of the biggest refining centres in Southeast Asia, can process 1.229 million barrels per day of crude and condensate, according to the Petroleum Institute of Thailand.
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U.S. condensate and liquefied petroleum gas (LPG) could account for 27 percent of HTC's total feedstock in 2022, up from less than 5 percent currently, HTC's Bariller said.
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Hurricane Harvey, which hit the Texas shore in August, reduced natural gas gathering volumes by 14 percent and crude and condensate pipeline volumes by 5.93 percent, the company said.
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Iran expects to maintain overall crude and condensate exports at around 2.6 million bpd for the rest of 2017, a senior official from the country's state oil company said.
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Kyari said Nigeria planned to increase its crude oil, condensate output by 100,000 barrels per day by the end of the year, up from about 2 million bpd currently.
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At its peak Ichthys will produce about 8.9 million tonnes per year (tpy) of LNG, about 1.65 million tpy of LPG and about 100,000 barrels per day of condensate.
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The 110 automated measurements characterized the formation process of the condensate formed as well as its size, among plenty of other aspects, according to the paper published in Nature.
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"You find that when this big condensate decayed into the particles that we observe today, that this process can be very elegantly described by a few numbers," he said.
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Mining output in December fell 4.9% from a year earlier, data from the Statistics Department showed, on declines posted in the crude oil and condensate and natural gas indexes.
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South Korea, a close U.S. ally, is a major buyer of Iranian condensate, an ultra-light form of crude oil which its refining industry relies on to produce petrochemicals.
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ADNOC faced limited options in sourcing for condensate substitutes as strong demand for the ultra-light oil in South Korea and Indonesia tightened supplies in Asia, trade sources said.
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Fedorov said that production of liquids, which usually means crude oil and gas condensate, was seen reaching 250 million tonnes by 2022 from slightly below that level in 2019.
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"A total of 400,000 to 500,000 barrels per day of crude and condensate will continue to be exported," said energy consultancy FGE, down from around 1 million bpd currently.
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The OPEC member exported between 1.02 million bpd and 1.30 million bpd of crude and condensate in April, Refinitiv Eikon and Kpler, a company that tracks oil flows, estimate.
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State-run Tataouine and Mosaique FM radio reported stoppages at Baguel and Tarfa fields, which are joint ventures for gas and condensate output, according to the Perenco company website.
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Ineos was forced to declare force majeure on deliveries of Forties crude oil, natural gas and condensate, suspending its contractual obligations to customers by citing circumstances beyond its control.
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U.S. crude and condensate production increased in both October and November, the first back to back increases since early 2015, according to the U.S. Energy Information Administration (tmsnrt.rs/2lOpdAs).
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The experiment the AI performed was the creation of a Bose-Einstein condensate, a hyper-cold gas, the process for which won three physicists the Nobel Prize in 2001.
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One-half of the Bose-Einstein condensate fluid flowed at supersonic speeds, with the other at subsonic — the boundary between the two effectively acts as the analogue's event horizon.
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Australia's Ichthys LNG export project, for instance, operated by Japan's Inpex Corp, could produce more than 100,000 barrels per day (bpd) of condensate when it starts up next year.
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The drop will come as condensate splitters that were planned a few years back to capture growth in petrochemical markets come online in Asia to feed adjacent paraxylene units.
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Costing $2.4 billion, JAC's condensate splitter and petrochemical units started operations in Asia in 2014 to produce paraxylene, a raw material for textiles and bottles, to meet China's demand.
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Meanwhile, Iran's crude oil and condensate exports in August are set to drop below 70 million barrels for the first time since April 2017, well ahead of the Nov.
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South Korea, one of Asia's major Iranian oil customers, mainly buys condensate, or an utlra-light oil, but its data does not provide a breakdown of imports by types.
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Many oil and gas firms are grappling with cost overruns and production delays at facilities such as Chevron's Wheatstone condensate and LNG plant or Shell's Prelude floating LNG unit.
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Each of the three imported between 1 million and 3 million barrels of South Pars condensate a month in the first half of the year, the KNOC data showed.
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In fact, helium is mostly obtained from natural gas deposits, like the South Pars/North Dome field, which is a natural gas condensate field shared by Iran and Qatar.
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But Iran's December crude exports excluding condensate are set to fall to 1.88 million bpd, from 2517 million bpd in November, the source familiar with its export situation said.
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South Korean refiner Hyundai Oilbank made its first purchase of Norwegian condensate, while SK Incheon Petrochem said it would continue to buy light crude including from Russia and Kazakhstan.
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SEOUL (Reuters) - South Korea plans to boost imports of Iranian oil, especially condensate, this year to meet growing demand after sanctions on the Islamic nation were lifted in January.
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Seoul has been negotiating with the United States to extend its waiver, saying there are few alternatives to the Iranian condensate it buys, according to a former U.S. official.
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Then they estimate that one needs a condensate of about a thousand particles to measure a discontinuity in the specific heat, which depends on the number of extra-dimensions.
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According to Chevron's 2018 report, the updated plan for the project has a capacity of 920 million cubic feet of natural gas and 30,000 barrels of condensate per day.
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Total also announced a major, new discovery off the coast of South Africa that could contain around 22019 billion barrels of total resources of gas condensate and light oil.
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On Wednesday, the company told customers that force majeure was effective on all liquid fuel transported via the pipeline, including Forties, LPG, condensate and gas as of Dec. 11.
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South Korea, one of Iran's major Asian clients, mainly purchases an ultra-light oil, also known as condensate, from the country, but a breakdown of imports is not available.
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South Korea, a close U.S. ally, is a major buyer of Iranian condensate, an ultra-light form of crude oil that its refining industry relies on to produce petrochemicals.
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"The gas condensate sells more slowly than the crude oil, but we expect its sales to become even faster than the crude oil's in the future," Mohsen Ghamsari added.
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Enbridge will repair the line after the ongoing cleanup and has made "significant progress" in recovering the 200 cubic meters (7,063 cubic feet) of spilled condensate, the company said.
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In tonnes, Russian oil and gas condensate output rose to 22020 million last year, up from 22019 million in 24.286, as small-sized oil producers cranked up their output.
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Iran's crude exports excluding condensate to Asia in August were 1.48 million bpd, up from 873 million bpd in July and roughly steady to this year's previous peak in April.
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When condensate meets water, it evaporates quickly and can cause large-scale explosion as it reacts with air and turns into a flammable gas, the transportation ministry said on Monday.
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FDA inspectors reportedly found various food products, including mushroom quesadillas, chives, beets and couscous that were exposed in areas where condensate was leaking from ceiling joints, doorways, pipes and fans.
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The administration said the State Department will cease granting sanctions waivers to any country still importing Iranian crude or condensate, an ultra-light form of crude oil, after May 21.2.
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The firm operates the Buckeye Texas Processing (BTP), which includes a 50,000-barrel-per-day condensate splitter and a system to handle liquefied petroleum gas (LPG) at Corpus Christi, Texas.
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"There's a lot we don't know about a major condensate spill since we've never seen one," Steiner, who has been talking with Chinese officials about this spill, told BuzzFeed News.
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A company official said S-Oil planned to carry out less scheduled maintenances this year, limiting such work to a condensate fractionation unit (CFU) and a No.2 paraxylene unit.
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Iran parked over 40 million barrels of crude and condensate, a very light grade of crude, on 33 to 25 ships after Western sanctions were imposed over its nuclear program.
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Demand for condensate, a very light oil blended with thick oil sands crude so it will flow through pipes, is expected to fall as producers cut heavy output, analysts say.
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Shares of Seven Generations hit a record low of C$9.56 in Toronto on Tuesday, while rival condensate producers Paramount Resources and NuVista Energy hit lows not seen since 2016.
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Ahead of the start-up of its splitter, Hyundai Oilbank bought 2 million barrels of Iran's South Pars condensate each month between October and December, according to two trade sources.
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It can import up to 200,2003 barrels per day (bpd) of Iranian oil, mostly condensate, the sources said, without invoking U.S. economic sanctions re-imposed on Iran on Nov. 5.
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The North Asian country was the third-biggest buyer of Iranian oil and also the largest importer of its condensate before it stopped imports in September ahead of U.S. sanctions.
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Once the Central Processing Facility is commissioned at Ichthys, it will produce condensate - an ultra-light form of crude oil - before LNG, Inpex has said without giving a specific timeframe.
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The French oil major has started production at the Incahuasi gas and condensate field in Bolivia, bringing on stream 50,000 barrels of oil equivalent per day, it said on Wednesday.
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The former Soviet republic's exports dropped 30.5 percent year-on-year in the first quarter as the value of oil and gas condensate exports fell 41.1 pecent, the regulator said.
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SKK Migas estimated the cumulative oil and condensate production from the 18 projects to be 45 million barrels, while the natural gas production is estimated at 271 billion cubic feet.
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SINGAPORE (Reuters) - Iran's crude oil and condensate exports in August are set to drop below 212 million barrels for the first time since April 22015, well ahead of the Nov.
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The loading delays are unlikely to have an immediate impact in LNG or condensate prices as adverse weather along the Australian coast is common in January and February, traders said.
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Qatari condensate exports are expected to drop from late in the third quarter as the oil will be used to supply a new splitter at Ras Laffan, north of Doha.
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The Andean country, which exports a cargo of reconstituted crude at least monthly, sold a similar condensate cargo to the United States in 2010 that was discharged at Freeport, Texas.
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The Port of Corpus Christi said Castleton remains slated to start construction in mid-2016, but Fielden said it may be too late with others already filling the condensate niche.
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The consortium said that its Azeri units produced around 8.4 billion standard cubic meters (bscm) of natural gas and around 2 million tonnes of condensate at the Shah Deniz field.
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In the first six months of 2019, the company produced 13.2 million barrels per day of oil equivalent, including 10.0 million barrels per day of crude oil (including blended condensate).
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ASTANA (Reuters) - Kazakhstan hopes to settle a dispute with global energy companies developing the Karachaganak gas condensate field in the coming weeks, Energy Minister Kanat Bozumbayev told reporters on Monday.
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The Akpo field produces nearly 130,000 barrels per day (bpd) of condensate and Total is also due to start production at the Egina development in OML 130 later this year.
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The project has been delayed repeatedly and is now expected to start shipping condensate, LNG and liquefied petroleum gas (LPG) in that order from around end-September to end-December.
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The unexpected resurgence in Iranian oil imports due to the waivers has helped push spot prices for Middle East crude and condensate to their lowest in more than a year.
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Iran will sell another 2 million barrels, or about 66,000 bpd, of South Pars condensate each month to Hyundai Chemical in Daesan between October and December, the two sources said.
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The maintenance comes as companies including ENOC and South Korea's Hanwha Total are grappling with feedstock condensate supply tightness due to sanctions against Iran which will take effect this month.
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Average realized prices for crude oil and condensate in North America was $48.46 per barrel in the quarter ended March 31, up from $883 a year ago, the company said.
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As theorized, dark matter axions would permeate the universe as an energetic condensate, interacting only very weakly via the electromagnetic force and existing as a kind of ghostly cosmic foam.
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Russia, the world's second-largest oil producer, pumped more oil in September than it pledged under a global supply cut deal due to an increase in natural gas condensate output.
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The intrigue: The prospectus touts a suite of "competitive strengths," such as "Unrivalled scale of crude oil and condensate production and conventional proved reserves" and low per-barrel production costs.
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Earlier on Friday, China Business Network reported, citing a CEFC executive, that the companies had agreed to build a petrochemical complex using liquefied petroleum gas and condensate to make petrochemicals.
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It was carrying 136,000 tonnes of condensate, an ultra light crude that is highly flammable and to South Korea, equivalent to about 1 million barrels and worth about $60 million.
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This week, reports emerged that South Korea received a waiver allowing it to import around 4 million barrels a month, equal to about 130,603 bpd, of Iranian crude and condensate.
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Novak has said that Russia reduced its oil output excluding gas condensate by 240,000 bpd in late December compared with levels in October 2018, the baseline for the global deal.
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The deal will consist of all of Shell's midstream and upstream assets in the southern Alberta Foothills area, which produce 29,000 barrels of natural gas, natural gas liquids and condensate.
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Equinor's largest refinery, on the western coast of Norway, was built in 1975 and has a crude oil and condensate distillation capacity of 226,000 barrels per day, according to the company.
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Traders with knowledge of Iran's oil sales said the hefty growth was spurred by resumption of condensate lifting and as Chinese firms lifted more oil from joint venture productions in Iran.
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For the whole of 2015, Russian oil and gas condensate output rose to more than 20.8 million tonnes, or 2635.3 million barrels per day (bpd) from 2210.813 million bpd in 22015.
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Inspections revealed welding deficiencies in the pump where the leak occurred and in six other condensate pumps, Engie said, adding these had been repaired and the pumps were back in service.
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ADNOC earlier bought Khuff condensate from Saudi Arabia to replace Qatari supplies, the trade sources said, but the production volume of this oil is small and it is usually consumed locally.
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But it has already used up oil stocks it had in floating storage - mostly made up of condensate - and it is now fighting to boost crude output to support export volumes.
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The Panama-registered tanker was sailing from Iran to South Korea, carrying 136,000 tonnes of condensate, an ultra light crude, equivalent to just under 1 million barrels, worth about $60 million.
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Most of the decline in non-OECD stocks likely came from Iran, where inventories of ultra-light condensate had been held at sea since the imposition of Western sanctions in 256.
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But the current situation is very different from past disasters because it could also have leaked an enormous amount of condensate, which reacts to the environment differently than heavy crude does.
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ADNOC Oil Pipelines will "lease ADNOC's interest in 18 pipelines, transporting stabilized crude oil and condensate across ADNOC's offshore and onshore upstream concessions," for 23 years, the company said in February.
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The field contains 1.2 billion tonnes of oil and gas condensate and more than 1.35 trillion cubic meters of gas, making it one of the world's largest oil and gas deposits.
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Kazakhstan has filed a $1.6 billion claim against the consortium led by BG Group BG.L and Eni that is developing the Karachaganak gas condensate field, fellow consortium member Lukoil has said.
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"At the bottom of a waterfall, the humidity made the camera sensor condensate, so I had to keep it off for a day while the camera internals dried out," he says.
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One regular Chinese buyer of Iranian condensate, Dragon Aromatics, was forced to shut its plant after a fire last April, contributing to a small decline in imports from Iran last year.
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The gas fields — Bibiyana, Jalalabad and Moulavi Bazar — had average net daily output of 720 million cubic feet of gas and 3,000 barrels of condensate, or liquid hydrocarbon produced with gas.
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The blazing vessel, which was carrying 136,000 tonnes - almost one million barrels - of condensate, an ultra-light, highly flammable crude oil, sank on Sunday evening after several explosions weakened the hull.
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The fields are estimated to hold 5.1 trillion cubic feet (144 billion cubic metres) of gas and 226 million barrels of condensate, which analysts have estimated could be worth $40 billion.
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Instead, the researchers built a black hole analog using a strange quantum material called a Bose-Einstein condensate, in which the point of no return is for sound rather than light.
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The Panama-registered tanker was sailing from Iran to South Korea, carrying 136,000 tonnes of condensate, an ultra-light crude, equivalent to just under 1 million barrels, worth about $60 million.
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Saudi Arabia, the United Arab Emirates, Egypt and Bahrain closed transport links with top liquefied natural gas (LNG) and condensate shipper Qatar, accusing it of supporting extremism and undermining regional stability.
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Iran is on track to ship 1.10 million barrels per day of crude excluding condensate this month, according to an industry source with knowledge of the OPEC member's tanker loading schedule.
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The introduction of the new condensate comes at a time when demand for the light oil is rising as two new splitters in South Korea and Qatar have started trial runs.
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Gazprom Neft has put the field's oil reserves at more than 250 million tonnes of oil and gas condensate as well as more than 320 billion cubic metres of natural gas.
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The field contains 1.2 billion tonnes of oil and gas condensate and more than 1.35 trillion cubic metres of gas, making it one of the world's largest oil and gas deposits.
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Output of full-range naphtha will double with the start of the splitter, Ibrahim Al Sulaiti, marketing director of condensate at Qatar International Petroleum Marketing Co, or Tasweeq, said in 2014.
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Washington is expected to reduce those waivers in May, disrupting South Korea's supply of Iranian condensate, an ultra-light crude oil that is used in its large refining and chemical industry.
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Pipeline segment earnings jumped 39 percent to C$13.5 million, led by the Canadian part of the Cochin pipeline, which transports light condensate from the United States to Fort Saskatchewan, Alberta.
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Asian refiners are seeking new sources as Middle East condensate supply tightens and as they start to prefer more heavy sour crude, or thicker oil with a high amount of sulphur.
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It remains unclear when cargo loadings at the port of Dampier will resume, said one person familiar with the matter who is facing loading delays for a cargo of NWS condensate.
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The revenue increase was due to higher prices for major products and a softer ringgit, but it was partially offset by lower sales volumes of crude oil and condensate, it said.
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Prelude is expected to have an annual LNG production capacity of 3.6 million tonnes, 1.3 million tonnes a year of condensate and 400,000 tonnes a year of liquefied petroleum gas (LPG).
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A Hyundai Oilbank spokesman said the facility, which splits condensate into fuels like naphtha for use in the petrochemcials industry, would be completed in the second half but declined to elaborate.
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It took 23 years for Iran to restore 4 million bpd in 2003, with a post-revolutionary peak last year just short of 5 million bpd of crude and condensate combined.
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The inaugural export comes as the company is re-focusing its business on LNG after exploring a possible expansion into crude condensate exports from a proposed terminal in Corpus Christi, Texas.
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The fall in South Korea's Iranian oil intake partly reflects the sinking last month of an Iranian tanker carrying 136,8403 tonnes of condensate after a collision with a Chinese cargo ship.
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The Nigerian National Petroleum Corporation (NNPC) said in a statement it planned to set up the condensate refineries in partnership with private partners in the southern states of Delta and Imo.
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SEOUL, Jan 14 (Reuters) - A South Korean oil buyer is set to receive about 2 million barrels of Iranian condensate in January, a source familiar with the matter said on Monday.
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Greater Sunrise contains an estimated 5.1 trillion cubic feet of gas and 226 million barrels of condensate, although the border dispute and low gas prices mean its development is on hold.
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Aslanbayli said the consortium's drilling at Shah Deniz II would extend for the next few years until production reaches a plateau of 16 bcm of gas and 120,000 bpd of condensate.
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Following the sale, Encana's Montney play will comprise of over 9,000 potential drilling locations with two-thirds of those wells located in the condensate-rich part of the play, it added.
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Rosneft said that resources at the projects, from which Exxon decided to withdraw, total 12.3 billion tonnes of oil and gas condensate as well as 15.2 trillion cubic meters of gas.
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The blazing vessel, which had been carrying 136,000 tonnes - almost one million barrels - of condensate, an ultra-light, highly flammable crude oil, sank on Sunday after several explosions weakened the hull.
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The country's oil and gas condensate output remained at 11.11 million barrels per day (bpd) [O/RUS1] last month, down 100,2000 bpd from levels agreed as the starting point for the accord.
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JAC's condensate splitter and petrochemical units - at a construction cost of $2.4 billion - started operations in Asia in 2014 to produce paraxylene to meet demand from textile and bottle manufacturers in China.
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Iran's crude oil and condensate exports in August are set to drop below 70 million barrels for the first time since April 2017, preliminary trade flows data on Thomson Reuters Eikon show.
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The onshore gas fields - Bibiyana, Jalalabad and Moulavi Bazar - have average net daily output of 720 million cubic feet of gas and 3,000 barrels of condensate, or liquid hydrocarbon produced with gas.
|
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The condensate exports amounted to 4.644 million tonnes in the six-month period, down from 8.629 million tonnes in the same period a year earlier, ISNA quoted a customs report as saying.
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Refinitiv - which monitors shipments based on vessel-tracking, port and other data - also estimates Iran exported about 258.94,26 bpd in July, if shipments of condensate, a type of light crude are included.
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Marathon, which raised its share buyback program to $1200 billion, said realized per barrel of crude oil and condensate price 10.4% to $59.18 per barrel in the United States in the quarter.
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South Korea said it planned to increase imports of Iranian oil this year to meet growing demand, especially of condensate, a super light oil that can be processed into fuels and petrochemicals.
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The heavy fuel oil is also flammable, and could burn if exposed to the condensate fire—surface slicks at the Deepwater Horizon spill were treated with burning agents to reduce their size.
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Experts worry the sinking of the Sanchi will likely expel the remaining condensate and the tanker's bunker fuel, or the heavy fuel oil that powers a ship's engines, contaminating the surrounding waters.
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Crude and condensate exports to Asia are rising 5 percent from July to almost 1.65 million bpd while those to Europe will fall 26 percent from the previous month to 2258,2000 bpd.
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MELBOURNE, March 25 (Reuters) - Royal Dutch Shell on Monday said it had shipped the first condensate cargo from its Prelude floating liquefied natural gas (FLNG) project off northwestern Australia over the weekend.
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Iran's crude and condensate exports to Asia in October are likely to total 2000 million bpd, down from 2111 million bpd in September, but still more than double from a year earlier.
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Iraq also plans to produce 20,000 tonnes per day of liquefied petroleum gas (LPG) and 15,000 barrels per day of condensate in 2020, Shatari said at the Asia Pacific Petroleum Conference (APPEC).
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"The crude's API seems to be 0003 degrees so in a way it's possible (to replace Iranian condensate) but again we need to check the oil's quality," one of the sources said.
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Iran is on track to ship 2000 million barrels a day (bpd) of crude excluding condensate this month, according to an industry source with knowledge of the OPEC member's tanker loading schedule.
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His experiment involves cooling a cloud of rubidium atoms to just above absolute zero (the lowest temperature theoretically possible), at which point they enter a state known as a Bose-Einstein condensate.
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Still, many see a place for them to soak up the ongoing excess of condensate, the super light crude abundant in the shale patches of Texas and Ohio that standard refiners dislike.
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ASTANA, Nov 27 (Reuters) - Kazakhstan hopes to settle a dispute with global energy majors developing the Karachaganak gas condensate field in the coming weeks, Energy Minister Kanat Bozumbayev told reporters on Monday.
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The rubidium atoms in Dr. Cornell and Dr. Wieman's experiment acted like bosons — a fundamental class of particles named after Professor Bose — which cozy up to each other to form the condensate.
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Fully operational, Shell says it will harvest at least 5.3 million tons per annum (mtpa) of liquids — 3.6 mtpa of LNG, 1.3 mtpa of condensate and 0.4 mtpa of liquefied petroleum gas.
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Second-quarter crude and condensate production fell 4 percent to 267,5.33 barrels per day from 277,500 in the year-ago period, as drilling activity slowed and output from existing shale wells declined.
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As condensate supply dries up and demand spikes, Asian refiners are likely to turn to other light crude grades from the region and potentially even from the United States as a substitute.
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"You will see more pull from Asia and that pull will have to be fed from somewhere, it is natural to look at the U.S. and European condensate production," Statoil's Berg said.
|
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Tunisia's Energy Minister Hela Chikhrouhou told reporters sit-ins halted production at energy company Perenco's Baguel and Tarfa fields, which the company website says are joint ventures for gas and condensate output.
|
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Yet in the microgravity of low earth orbit, the Bose-Einstein condensate can hold its wave form for much longer—up to ten seconds—which allows researchers to better understand its properties.
|
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Norway produces about two million barrels of oil, condensate and natural gas liquids (NGL) per day, while its output of natural gas currently stands at around 300 million cubic meters per day.
|
|
Ineos on Dec 13 was forced to declare force majeure on deliveries of Forties crude oil, natural gas and condensate, suspending its contractual obligations to customers due to circumstances beyond its control.
|
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South Korea, a major buyer of Iranian oil, will not lift any Iranian crude and condensate in July for the first time since August 2012, three sources familiar with the matter said.
|
|
Hess' nine gas fields in the North Malay Basin have an estimated gross recoverable resource of more than 1.5 trillion cubic feet of natural gas and over 20 million barrels of condensate.
|
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The combined reserves of Aasta Hansteen and Snefrid North are together estimated at 55.6 billion cubic metres of gas and 0.6 million cubic metres of condensate (353 million barrels of oil equivalent).
|
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Speaking to reporters after Cenovus's annual general meeting in Calgary on Wednesday, chief executive Brian Ferguson said stripping out condensate could improve margins by $2-$4 a barrel, depending on market conditions.
|
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"Dragon was out in the market seeking condensate and fuel oil, but it's not clear if the new management has got that much expertise running the plant," said one of the sources.
|
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According to Refinitiv Eikon data, shipments including condensate plunged to about 650,000 bpd in December, although such figures are probably not counting all the tankers that switch off their AIS tracking signal.
|
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The tanker Sanchi, owned by Iran's top oil shipping operator National Iranian Tanker Co, was carrying almost 1 million barrels of condensate, an ultra-light, highly flammable crude oil, to South Korea.
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Oil major BP owned the Eagle Ford condensate cargoes, the sources said, although it was not immediately clear if the cargoes meant for the two South Korean refiners were onboard the same ship.
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Marathon, which raised its share buyback program to $1200 billion, said realized per barrel of crude oil and condensate price fell 10.4% to $59.18 per barrel in the United States in the quarter.
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MOSCOW (Reuters) - Russian oil giant Rosneft said on Monday its average daily crude oil and gas condensate production in the first quarter rose by 3.9 percent year-on-year to 4.74 million barrels.
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The Wattenberg Field operations are focused on the liquid-rich horizontal Niobrara and Codell plays and the Ohio operations are focused in the condensate and wet gas portion of the Utica Shale play.
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The discovery, near the Equinor-operated Morvin field, so far is estimated to hold 6.2-34.1 billion cubic meters of gas and 1.2-8.2 million cubic meters (7.5-51.6 million barrels) of condensate.
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It is expected to produce about 3.7 million tonnes per year of liquefied natural gas and 1.5 million barrels per year of condensate once it begins production, Australia's offshore petroleum regulator has said.
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A Bose-Einstein condensate on Earth is already a fascinating object; at super-low temperatures, atoms&apos boundaries blend together, and usually-invisible quantum effects play out in ways scientists can directly observe .
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The CAL can form a Bose-Einstein condensate, set it free, then have a significantly longer time to observe it before it drifts off, NASA wrote — as long as 5 or 10 seconds.
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Oil exports to Asia fell as South Korea and Japan stepped up oil condensate purchases and bought less oil, said the source, who asked not to be identified as the information is confidential.
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He noted that underlying economic growth could give diesel demand in particular a kick, and would be sufficient to absorb the refining additions this year — mostly condensate splitters in Iran, Oman and Qatar.
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Maritime officials say compensation this time would fall under China's far smaller scheme known as the COPC Fund, partly because the oil in question is condensate which is not covered by IOPC Funds.
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Director of the International Affairs Department at National Iranian Oil Company (NIOC) Mohsen Ghamsari told SHANA the total amount of crude and gas condensate exports by Iran reached 2.740 million bpd in July.
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The consortium provides almost a tenth of Vietnam's electricity needs and last year also produced 65,35 tonnes of gas condensate, mainly for the domestic market but some of which was exported to Singapore.
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DOHA (Reuters) - Qatar will reduce its condensate exports by a third in January 2017 when a new splitter at its Ras Laffan refinery starts operating, a Qatar Gas official told Reuters on Monday.
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West Texas Light (WTL) is seen as a potential substitute for Iranian condensate because, when refined, WTL yields a large volume of the refined product naphtha, which can be used to produce petrochemicals.
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Trafigura signed a long-term agreement with pipeline operator Plains All American Pipeline LP last year to transport a total of 300,000 barrels per day (bpd) of crude and condensate on the pipeline.
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Crude and condensate exports for February will be just over 2.20 million barrels per day (bpd), up from 2.16 million bpd this month, which is the lowest rate since July, the person said.
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S&P Global Platts reported on Tuesday that South Korea would be able to take around 33 million barrels a month (130,000 bpd) of Iranian crude and condensate under a U.S. sanctions waiver.
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Trafigura's exports increased after the Cactus pipeline system from the Permian basin to the Corpus Christi, Texas area started up, allowing Trafigura to transport a total of 300,000 bpd of crude and condensate.
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Crude oil and condensate production fell 2.8 percent to 58.9 million tonnes of oil equivalent in 2015, while natural gas output dropped 39.53 percent to 82.5 billion cubic metres, according to the data.
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The Polaris, a medium-range vessel, loaded 20153,000 barrels of the condensate at Malaysia's Bintulu terminal in early February, before stopping at Singapore's Jurong Port to pick up another parcel, the source said.
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ATC has especially stepped up condensate sales to refiners in South Korea and the United Arab Emirates after they stopped importing the petrochemical feedstock from Iran due to U.S. sanctions, trade sources said.
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For the March quarter, realised oil and condensate prices fell 3 percent and the realised LNG and gas price was 7 percent lower than in the fourth quarter of 2018, Oil Search said.
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VIENNA (Reuters) - Russian energy minister Alexander Novak said on Thursday that an OPEC+ ministerial panel has recommended excluding data on gas condensate from oil output figures for all non-OPEC members, including Russia.
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Apache said the well confirmed a geologic model with 73 metres (240 feet) of oil pay and 50 metres (164 feet) of light oil and gas condensate pay, with more appraisal planning underway.
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Russia reported record high 2019 oil and gas condensate production C-RU-OUT of 11.25 million bpd, beating the previous record of 11.16 million bpd set a year earlier, Energy Ministry data showed.
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VIENNA (Reuters) - Russian energy minister Alexander Novak said on Thursday Russia was currently cutting even more oil output than agreed under an OPEC+ pact to curb supply, without taking into account gas condensate.
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The Polaris, a medium-range vessel, loaded 200,20153 barrels of the condensate at Malaysia's Bintulu terminal in early February, before stopping at Singapore's Jurong Port to pick up another parcel, the source said.
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One measure reportedly under review is a ban on sales of U.S. light crude oil and condensate to Venezuela, which PDVSA uses to dilute its heavy crude before selling the oil to refineries.
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Three workers were also injured on the same day after the release of hot condensate from the gasoline-producing residual catalytic cracking unit (RCCU) at the Norco refinery, the sources said late Wednesday.
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The 959-km (586-mile) pipeline, which transports light crude as well as condensate between Edmonton and Hardisty in the province of Alberta, was shut following a leak in Strathcona County last week.
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U.S. crude futures reversed an early rise and Brent pared gains after the ministerial panel also recommended excluding data on gas condensate from oil output figures for Russian and other non-OPEC members.
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Dr. Chanda Prescod-Weinstein: As far as things that I've accomplished at MIT, working on a paper that looked at how axions could form and condensate on an astrophysical scale...that was really fun.
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Lukoil said the production of liquids, such as crude oil and gas condensate, declined in the first half of the year to 349.6 million barrels from 370 million barrels in the year-earlier period.
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Schematic of the setupGraphic: Krinner et al (arxiv 2017)Like many strange-sounding physics advances, this research begins with a Bose-Einstein condensate, a system in which atoms are held at ultra-cold temperatures.
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ASTANA (Reuters) - Kazakhstan hopes to settle a profit sharing dispute with global energy companies developing the Karachaganak gas condensate field by June, its deputy energy minister said on Friday, after talks were repeatedly extended.
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The UAE halted condensate imports from Qatar after it, along with Saudi Arabia, Egypt and Bahrain, severed diplomatic and transport ties with Qatar after accusing it of supporting terrorism, a claim which Doha denies.
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But if it is, this incident has the potential to be the largest condensate spill ever, the largest tanker spill in nearly 30 years, and one of the biggest toxic spills in the ocean.
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BAKU, Dec 14 (Reuters) - Azerbaijan produced 37.71 million tonnes of oil and gas condensate in January-November, 1.5 percent less than in the same period last year, the State Statistics Committee said on Wednesday.
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Motiva has also chartered the tanker 'South Sea' to ship about 63 million bbl of condensate from the U.S. Gulf to Ruwais in May for about $2 million, one U.S.-based shipping source said.
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Combined condensate supplies from Ichthys and Gorgon of almost 140,000 bpd will initially meet a rise in Asian splitter capacity of 160,000 bpd in Taiwan and South Korea between late 2016 and early 2017.
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On the supply side, Russia said on Sunday it produced more oil in September than envisaged by a global deal due to an increase in gas condensate output as the country prepared for winter.
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Gorgon condensate has an API gravity of about 52.9 degrees and a sulfur content of 0.0088 percent, the two sources said, declining to be identified as they were not authorized to speak with media.
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Worries had also been growing about the potential reimposition of U.S. sanctions against Iran, which U.S. President Donald Trump announced on May 2974, spurring some South Korean buyers to replace imports of Iranian condensate.
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Despite the confusion, analysts at Eurasia Group said they expected the Trump administration to issue new waivers to the five countries currently importing Iranian crude and condensate: China, India, Turkey, South Korea, and Japan.
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Iran's SPC was as much as $5 a barrel cheaper than Qatar's deodorised field condensate (DFC) at the start of the year, but the gap has since narrowed to $2-$3, trade sources said.
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A unit in Bolivia of French oil company Total discovered gas and condensate in the South American country in 2011 and the commerciality of a project involving Aquio and Ipati blocks was later announced.
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Ichthys LNG, with reserves of more than 3 billion barrels of oil equivalent offshore Western Australia, including around 500 million barrels of condensate, is operated by Japan's Inpex Corp with a 62.2 percent stake.
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The Alberta Energy Regulator (AER) said Murphy Oil Company failed to report the release of condensate and failed to "conduct remedial actions," which caused damage to public lands near Peace River in northwestern Alberta.
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South Korea, the world's fifth-biggest crude oil importer, mainly buys condensate - an ultra-light oil - from Iran and increased purchases of the oil after sanctions against the Islamic republic were lifted in 2016.
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LAGOS, Aug 29 (Reuters) - Nigeria's state oil company plans to conduct a feasibility study for setting up two condensate refineries with a total capacity of 200,000 barrels per day (bpd), it said on Wednesday.
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Exports of condensate, used in petrochemical production, will return to about 22015,000 bpd after the maintenance, although that is still well below the 550,000 bpd average over the last 15 months, the official said.
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The tanker Sanchi (IMO:9356608), owned by Iran's top oil shipping operator National Iranian Tanker Co, was carrying almost 1 million barrels of condensate, an ultra-light, highly flammable crude oil, to South Korea.
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The Chinese Ministry of Commerce said in a written statement that it will restrict exports of refined petroleum products from October 53, and ban the export of condensate oil and liquefied natural gas immediately.
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In February, PetroSA said they had reached out to French oil major Total following the discovery of a huge offshore field containing gas condensate that could potentially be used as feedstock to Mossel Bay.
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SNOC and Italian energy giant Eni announced in January the discovery of Mahani, a new find of natural gas and condensate onshore in Sharjah, and the first in the Emirate since the early 1980s.
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Operating in areas where condensate has escaped is dangerous for crew due to the danger of explosions, oxygen displacement and the threat of asphyxiating and anaesthetizing, which can occur within a few human breaths.
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The ministry did not separate out figures for crude oil production and gas condensate production, which was excluded from output reduction quotas under its deal with the Organization of the Petroleum Exporting Countries (OPEC).
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The company has hedged about 2000,229 barrels per day of oil and condensate production next year at an average price of about $29 per barrel, Chief Financial Officer Sherri Brillon said on a conference call.
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The Sunrise and Troubadour gas fields, together known as Greater Sunrise, hold around 5.1 trillion cubic feet of gas and about 226 million barrels of condensate, a light oil produced in association with natural gas.
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MOSCOW, May 13 (Reuters) - Russian oil giant Rosneft said on Monday its average daily crude oil and gas condensate production in the first quarter rose by 3.9 percent year-on-year to 4.74 million barrels.
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On other projects, OMV plans this year to drill one appraisal well at its Hades/Iris gas and condensate discovery in the Norwegian Sea, one of the largest finds off Norway in 2017, Mauseth said.
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ANKARA (Reuters) - Iran's crude and condensate exports have recovered from a fall in March and currently stand at 2.5 million barrels per day (bpd), state TV on Monday reported Oil Minister Bijan Zanganeh as saying.
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PARIS, Aug 31 (Reuters) - French oil and gas major Total said on Thursday that more than 90 percent of output from its Edradour & Glenlivet gas and condensate fields in the United Kingdom would be gas.
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Earlier this month, ATC was also one of the successful bidders in a tender issued by the Abu Dhabi National Oil Company (ADNOC) to buy condensate for delivery in July to September, the sources said.
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The US government's Energy Information Administration reported that imports shipped through the Strait accounted for about 18% of total US crude oil and condensate imports and 7% of total US petroleum liquids consumption in 2018.
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The refiner added it plans to shut down a 250,000 barrel per day (bpd) No.3 crude distillation unit (CDU) and 89,000-bpd condensate fractionation unit (CFU) in 2019 for maintenance, without giving further details.
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U.S. sour crude Mars accounted for about half of all volumes in the first half, while light sweet grades such as West Texas Intermediate and condensate made up most of the remainder, KNOC's data showed.
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Iranian crude and condensate exports last month hit a five-month low of around 2000 million bpd, down 230 percent from the previous month, as slowing Asian demand offset strong European demand, the source said.
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SK Incheon Petrochem, a petrochemical unit of SK Innovation; Hyundai Chemical, a unit of Hyundai Oilbank; and Hanwha Total Petrochemicals, a joint venture between Hanwha Corp and France's Total, are regular buyers of Iranian condensate.
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Gas giant Gazprom, which controls Gazprom Neft, said the field, one of the largest oil and gas condensate deposits in the Yamal peninsula, would produce 6.3 million tonnes (126,000 bpd) of crude oil in 2018.
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PTTEP is the upstream arm of oil giant PTT Pcl and currently operates the Bongkot field, which produces about 276 million cubic feet per day of natural gas and 26,000 barrels per day of condensate.
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Kinder Morgan's involvement in the joint venture provided access to the 300,000 barrel-per-day Kinder Morgan Crude and Condensate pipeline that runs from the Eagle Ford shale in South Texas to the Gulf Coast.
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Marathon's average realized prices for crude oil and condensate in the United States rose nearly 47 percent to $68.51 per barrel in the reported quarter, on concerns over U.S. sanctions on major oil supplier Iran.
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Updated calculations now show a resource estimate of between 473 million and 90 million barrels of recoverable oil equivalents of gas and condensate, while the previous projection was for 23 million to 94 million barrels.
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In its latest oil market report, the IEA noted that the political dispute hasn't yet disrupted supplies but it has become an operational problem for lifters of Qatari crude, condensate and LNG (liquefied natural gas).
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The splitter, located in Rotterdam, is a specialised refining asset that processes very light oil, known as condensate, into higher value products such as naphtha that is used in the petrochemical industry and gasoline blending.
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Refiners like South Korea's GS Caltex and Japan's Idemitsu, Cosmo and Tonen General who buy condensate for their refineries are likely to be the first end users to step away from condensates when prices spike.
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Robust demand for condensate, from South Korea in particular, helped drive a recovery of Iranian oil exports to a 4-1/2-year high in June, although the volume is expected to dip in July.
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Naimi says he was convinced that as part of gas talks in the 1990s, Exxon and other oil majors hoped to acquire cheap Saudi reserves of gas condensate, a high-quality form of crude oil.
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Up to 111,000 metric tons of nearly invisible condensate, a toxic, liquid byproduct of natural gas production, have flowed into the East China Sea after a fiery collision sank an Iranian tanker a month ago.
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Up to 111,663 metric tons of condensate, a toxic, almost invisible type of petroleum, has spilled from an Iranian tanker after its fiery collision with a cargo ship in the East China Sea last month.
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Environmental and health impact The oil being transported was condensate oil, a type of colorless, ultralight crude oil that is more flammable than normal crude oil, meaning the tanker is at greater risk of exploding.
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ExxonMobil had been looking to hire two crude oil traders in Singapore, one to buy condensate for its local Jurong Aromatics petrochemical plant and the other to market crude to Chinese independent refiners, traders said.
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VIENNA, Dec 5 (Reuters) - Russian energy minister Alexander Novak said on Thursday that an OPEC+ ministerial panel has recommended excluding data on gas condensate from oil output figures for all non-OPEC members, including Russia.
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Inpex said in August that it expected the $40 billion Ichthys project to start shipping condensate, liquefied natural gas (LNG) and liquefied petroleum gas (LPG) in that order from around end-September to end-December.
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The U.S. sanctions and rising domestic demand could cap Iran's South Pars condensate exports at 21,2109.5300-200,000 barrels per day (bpd) in 2019-2020, down from 400,000-13,000 bpd in 2017, according to consultancy FGE.
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Among its mid and downstream investments, Vitol increased its number of retail stations to over 5,000 after buying Turkish chain Petrol Ofisi and bought an 85,000 bpd condensate splitter from Koch Supply and Trading in Rotterdam.
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For six minutes, the MAIUS-1 team managed to create the first space-based Bose-Einstein condensate—a gas of ultra-cold atoms, so cold that they begin to demonstrate strange quantum effects on macroscopic scales.
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Prelude, the world's largest floating LNG facility, has the capacity to produce 3.6 million tonnes a year of LNG, 1.3 million tonnes a year of condensate and 400,000 tonnes a year of liquefied petroleum gas (LPG).
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The tanker, named Sanchi, was transporting 136,000 metric tons (or about 1 million barrels) of a flammable and toxic light crude oil, called condensate, when it crashed into a Chinese freight ship hauling grain on Jan.
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Midstream companies such as Magellan rushed to build condensate splitters during the shale boom earlier this decade to break light oil into products such as naphtha and unfinished distillates, which could be exported or sold domestically.
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An Australian wave of liquefied natural gas supply has helped pull Asian LNG prices down by 75 percent since 2014, so selling more lucrative condensate to Asian buyers could give a lifeline to less profitable projects.
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A harmful plume of condensate would likely be in the water, out of sight of observers on the surface, said Rick Steiner, a U.S. marine scientist based in Anchorage, Alaska, who has experience of oil spills.
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This transition moves at a constant speed through the condensate, but from the point of view of the experimenters, it appears to be stationary; instead, it looks as if all of the rubidium atoms are moving.
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Oil prices rose after the moves against Qatar, which is the biggest supplier of liquefied natural gas (LNG) and a major seller of condensate — a low-density liquid fuel and refining product derived from natural gas.
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SEOUL, Nov 15 (Reuters) - South Korea's Hyundai Chemical, a joint venture between Hyundai Oilbank Co and Lotte Chemical, has finished building a 1.2 trillion won ($1.02 billion) condensate splitter to produce mixed xylene and light naphtha.
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"We wanted to find a way to get Permian barrels to KMCC (Kinder Morgan Crude and Condensate pipeline)," which delivers crude from the Eagle Ford Shale in South Texas to Houston Ship Channel destinations, Kean said.
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If shipments of the ultra light oil were steady with the average for the first 10 months of the year at 354,000 bpd, total crude and condensate exports next month would be about 287 million bpd.
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Iran's crude exports excluding condensate to Asia next month are likely to total 117 million bpd, up 2000,23 bpd from October, but exports to Europe look to fall to 22,21 bpd from 22,000 bpd in October.
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South Korea is a large buyer of a light oil called condensates from Iran and has told a former U.S. official that there are few options for getting the same quality of condensate from other suppliers.
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The Ichthys Venturer, a floating production, storage and offloading facility, travelled 5,600 km (543,500 miles) from a South Korean shipyard and will be moored 220 km off Western Australia to handle condensate from the Ichthys field.
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MOSCOW, Nov 5 (Reuters) - Third-quarter oil and gas condensate production at Russia's Rosneft, the world's largest oil company by output, declined by 1.4%, year-on-year, to 57.88 million tonnes, the company said on Tuesday.
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This means Prelude has now entered start-up and ramp-up, the initial phase of production where gas and condensate - which is an ultra-light form of crude oil - is produced and moved through the facility.
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While South Korea does not provide separate data on imports of condensate, traders said the expected June shipments from Iran of at least six million barrels, or 200,000 barrels a day, would be a record level.
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The company expects its crude oil and gas condensate to grow by 3 percent to 4.5 percent this year, depending on the implementation of a global oil output deal in the first half of the year.
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A Hanwha spokesman said the refiner planned to import about 2 million barrels of Iranian condensate in June, as it was cheaper than oil from Qatar and the company wanted to diversify its sources of supply.
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South Korean refiners and petrochemical producers suspended shipments of Iranian crude and condensate in July, halting all shipments for the first time in six years amid U.S. pressure to cut all imports from Iran from November.
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SINGAPORE, Nov 1 (Reuters) - Emirates National Oil Company (ENOC) has scheduled month-long maintenance for November at its 140,000 barrels per day (bpd) condensate splitter in the United Arab Emirates (UAE), industry sources said on Thursday.
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The start-up of Qatar's Ras Laffan 2 and Iran's Persian Gulf Star Phase 1 condensate splitters will tighten Middle East supplies by a total of 266,0003 bpd in 2017, based on their combined processing capacities.
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SINGAPORE/TOKYO (Reuters) - Iran's condensate exports in July are expected to fall to the lowest in five months as major buyer South Korea scales back purchases of the ultra-light oil, trade sources said on Thursday.
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For July, Iranian condensate exports are expected to fall by 38 percent to about 252,000 barrels per day (bpd), the sources said citing loading data, as Asian refiners replace the ultra-light oil with cheaper naphtha.
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South Korea's imports of U.S. crude have increased amid the end of U.S. sanction waivers in May 2019, which stopped South Korea purchasing Iranian crude oil, mainly condensate, or an ultra-light form of crude oil.
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They have issued regular statements and held briefings, showing video of efforts to clean up the condensate and to monitor the sunken wreck, which was located at a depth of 115 meters, or about 377 feet.
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Crude oil, condensate, naphtha, base and extract oils are stored at the facility, which has a total crude oil storage capacity of approximately 24 million barrels in approximately 130 aboveground storage tanks, according to the company.
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MOSCOW, Oct 20 (Reuters) - Russia produced more oil in September than envisaged by a global deal due to an increase in gas condensate output as the country prepared for winter, local news agencies reported on Sunday.
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While the colorless nature of condensate oil makes it harder to see than heavy crude oil, it can still be easily seen and monitored because of the sheen it leaves on the ocean surface, Anifowose added.
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MOSCOW, March 22 (Reuters) - Russia's No.2 natural gas producer Novatek expects its production of crude oil and gas condensate to increase by 30 percent this year, Chief Executive Leonid Mikhelson told Rossiya-24 TV channel.
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Asked how OPEC would define condensate if it needed to determine Nigerian production volumes, a spokesman for the producer group said the definition was based on "international standards" such as those of the American Petroleum Institute.
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Dragon Aromatics' splitter used to run mostly on Iranian South Pars condensate but Iran has reduced exports since late last year after selling excess supplies in storage and as it started up its own new splitters.
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MOSCOW (Reuters) - Russian Energy Minister Alexander Novak said on Thursday there was no decision yet on whether to exclude Russian gas condensate from how its output is measured under an international agreement to curb oil production.
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Like most gas fields in the wider region, including Papua New Guinea's and Australia's huge liquefied natural gas (LNG) exports facilities, Greater Sunrise also contains significant amounts of condensate, an ultra-light form of crude oil.
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Plains All American's Senior Vice President Jeremy Goebel said at a Houston conference two weeks ago that in two months' time, the market will likely start trading West Texas Condensate (WTC), an even lighter oil than WTL.
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SK Energy was supposed to take about 700,000 barrels of Eagle Ford condensate - which was onboard the supertanker Olympic Luck - at the southeastern port of Ulsan in January, according to a second source familiar with the matter.
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It said the joint venture reduced the royalty payable by taking more than A$5 billion in deductions, including operating costs, depreciation, cost of capital, crude oil and condensate excise, processing tariffs and joint venture participant costs.
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The following table shows monthly loadings of crude and condensate at Iranian ports in 1,000 barrels per day to global markets and countries, as well as rough percentage changes from the previous month, according to the source.
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Last-year revenues rose by 42.6 percent to 831.8 billion roubles, while natural gas production increased 8.5 percent to 68.8 billion cubic metres, oil and gas condensate output edged up by 0.3 percent to 11.8 million tonnes.
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"We potentially could be supplied by Total with gas and condensate, which means the GTL refinery can be ramped up ... it is currently running below 50 percent of its design capacity," said PetroSA acting CEO Bongani Sayidini.
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The vessel Austin C. Settoon reportedly pushed three barges loaded with approximately 3.8 million gallons of natural gas condensate, and allided with a lock wall in the early hours, resulting in the subsequent barge breakaway, it added.
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For the UAE trades, a first shipment of 1 million barrels (bbl) of U.S. condensate aboard the tanker 'Astra' was unloaded at Ruwais on May 12, according to the sources and shipping data on Thomson Reuters Eikon.
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Two more splitters, one in Singapore and one China, are also set to restart following unplanned outages, and at some point will add back another 190,000 bpd in condensate demand, tightening the market for the light oil.
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Indonesia's OPEC governor said on March 7 that a deal was imminent for importing Iranian condensate and LPG, but not for crude as Iran's sour oil grades were not compatible with its refineries' need for sweet crude.
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Shipments of condensate will be dented by a "technical problem" at the South Pars field, with maintenance expected to take 1-2 months to complete, National Iranian Oil Company's Director of International Affairs Saeid Khoshrou told Reuters.
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Its projects include the Rabab Harweel facility, which is to develop 240 million barrels of oil and 100 million barrels of condensate while exporting 1 trillion cubic feet of non-associated gas when production starts in 2019.
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Iran's global combined crude oil and condensate exports may total 1113 million bpd this month, down 4 percent from a year earlier, the source said, which would mark the first year-on-year decline in four months.
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The sanctions were lifted in January, and in August, Iran's crude exports, excluding condensate, rose to near pre-sanctions levels at 2.11 million bpd, with loadings headed for India surpassing those for China, Tehran's top oil client.
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South Korea has been buying other types of U.S. light crude, but two buyers - SK Energy and Hyundai Oilbank - recently turned down cargoes of Eagle Ford condensate from Texas after the oil was found to contain impurities.
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MOSCOW, Nov 6 (Reuters) - Russian oil giant Rosneft said on Monday its average daily crude oil and gas condensate production in the third quarter rose by 3.4 percent in year-on-year terms to 4.73 million barrels.
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Rosneft said on Thursday that drilling and testing in 2015-2016 helped increase the field's oil and condensate reserves to 111 million metric tonnes, or 813 million barrels based on worldwide average gravity, from 52 million tonnes.
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Earlier this month, Mitsui & Co resumed taking Iranian oil for the first time since at least 2012, co-loading Iranian condensate with a major Japanese refiner on a tanker, a source familiar with the shipping schedule said.
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Kpler, another company which tracks oil flows, estimates that Iran loaded 645,000 bpd of crude and condensate, a light oil, onto tankers in the first half of June, of which 82 percent are floating in Gulf waters.
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The cuts come as Russia reported record high 2019 oil and gas condensate production of 11.25 million bpd, beating the previous record of 11.16 million bpd set a year earlier, Energy Ministry data showed.
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MOSCOW (Reuters) - Russian oil and gas condensate output C-RU-OUT rose to 11.28 million barrels per day (bpd) in January, from 11.26 million bpd in December, Interfax news agency reported on Sunday, citing Energy Ministry's data.
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MOSCOW (Reuters) - Russia's Irkutsk oil company said on Thursday that the idea of excluding Russian gas condensate from output calculations for the global output between OPEC and its allies was being discussed for the period after March.
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MOSCOW, Nov 26 (Reuters) - Oil and gas condensate output from Kazakhstan's giant Kashagan project has more than halved from early November levels due to unplanned maintenance that started last week, two industry sources told Reuters on Tuesday.
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The refiner, which has 669,000 bpd refining capacity, said it plans to shut down a 250,13 barrel per day (bpd) No.3 crude distillation unit (CDU) and 89,000-bpd condensate fractionation unit (CFU) in 2019 for maintenance.
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Before the extended shutdown, the plant in Zhangzhou, on the east coast of China, included a 90,000-barrels-per-day (bpd) condensate splitter, a 3.2-million-tonnes-per-year (tpy) hydrocracker and two 800,000-tpy paraxylene plants.
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The bet was built on several converging dynamics: an ever-rising supply of condensate; a U.S. refining system built to run heavier crudes; and a longstanding ban on crude exports that appeared unlikely to unwind amid partisan paralysis in Washington D.C. Now, as U.S. oil output reverses its five-year rise and after lawmakers ended the 40-year-old export ban this month, oil executives and analysts question the wisdom of nearly $20163 billion worth of so-called condensate splitters built over the past year, and the future of another $1.2 billion planned.
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Geneva-based Petro-Logistics said on its website that Iranian crude and condensate exports in December "fell steeply" from November to less than 1 million barrels per day (bpd) due to U.S. sanctions — lower than some other estimates.
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While the fire likely killed all aboard the ship, it was seen by environmental experts as a way to minimize the broader impacts of the spill, since the flames burned off the lightweight condensate on the ocean surface.
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The Bose-Einstein condensate chipPhoto: MAIUS project team/J Matthias (DLR)Last year, graduate student Dennis Becker watched from a safehouse as the MAIUS-1's sounding rocket took off from a launch facility in the Swedish Arctic.
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The moves came following a Washington Post report that U.S. Secretary of State Mike Pompeo will announce the State Department will cease to grant sanctions waivers to countries that import crude or condensate from Iran, from May 2.
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A gravastar is a lot like a black hole, but without quite the singularity; all of the incoming matter winds up squished into a wad of Bose-Einstein condensate that kind of acts like a single giant atom.
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China, India, Japan, South Korea, and Singapore were the largest destinations for crude oil moving through the Strait of Hormuz to Asia, accounting for 65% of all Hormuz crude oil and condensate flows last year, the EIA said.
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"Iran exports a total amount of 2.5 million barrels per day of crude and condensate, and eliminating it easily and in a period of a few months is impossible," the official told the semi-official Tasnim news agency.
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Now, a research group in Israel has built a mini-black hole in a lab and has managed to detect what they say is an analog for Hawking radiation, using an exotic material called a Bose-Einstein condensate.
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At full operation, Ichthys is expected to produce 8.9 million tonnes of LNG a year, along with about 1.7 million tonnes of LPG and about 100,000 barrels per day of condensate, an ultra-light form of crude oil.
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HOUSTON, Feb 24 (Reuters) - Enterprise Products Partners expects to export 6 million barrels of crude and condensate out of its Gulf Coast terminal in March, its chief executive said at the IHS CERAWeek conference in Houston on Wednesday.
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Calgary-based Pembina said it will add 45,000 barrels per day of capacity to the planned pipeline, meaning it will be able to carry 305,000 bpd of crude oil and condensate between Lator and Fox Creek, central Alberta.
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According to trade flow data on the Thomson Reuters Eikon terminal for Iran condensate that discharged in September, about one-third went to South Korea, with the rest going to the United Arab Emirates, India, China and Japan.
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Still, Iran was selling roughly 2180 million to 24 million bpd of crude oil and condensate, a super light form of oil, in September, according to estimates by investment banks, tanker-tracking firms and the International Energy Agency.
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Western Europe's largest producer of oil and gas pumps about two million barrels of crude, condensate and natural gas liquids (NGL) per day, while its output of natural gas stands at around 320 million cubic metres per day.
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In a book published last year, Naimi said he was convinced that as part of gas talks during that decade, oil majors hoped to acquire cheap Saudi reserves of gas condensate, a high-quality form of crude oil.
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Unlike the crude oil in better-known disasters like the Exxon Valdez and the Deepwater Horizon, condensate does not clump into black globules that can be easily spotted or produce heart-wrenching images of animals mired in muck.
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Iran plans to increase its crude oil production to 4 million barrels per day in 2019 and 4.28 million bpd in 2020, while boosting condensate output to 1 million bpd as early as 2018, Zanganeh told the conference.
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Iran is the third-biggest producer in the Organization of the Petroleum Exporting Countries, supplying around 2.5 million barrels per day (bpd) of crude and condensate to markets this year, equivalent to around 2.5 percent of global consumption.
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"If naphtha does not find enough outlet in chemical production, refiners will start blending it into gasoline," he said, adding that condensate splitters margins will not be spared as some 40%-50% of these units' yield is naphtha.
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Iran is the third-biggest producer in the Organization of the Petroleum Exporting Countries, supplying around 23 million barrels per day (bpd) of crude and condensate to markets this year, equivalent to about 9853 percent of global consumption.
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Russian Energy Minister Alexander Novak expects Russian oil and condensate production of between 555 million tonnes and 565 million tonnes in 2020, or 2.173-11.32 million bpd using a conversion rate of 7.33 barrels per tonne of oil.
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SK Innovation, the owner of South Korea's top refiner SK Energy and petrochemical maker SK Incheon Petrochem, said in late May that it has been replacing Iranian condensate with crude oil from other sources, including Qatar and Russia.
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"We do think that (floating storage) has been the primary cause of the boost in exports," Energy Aspects analyst Richard Mallinson said, adding that now floating storage had ended total exports of crude and condensate were likely to slip.
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The Ichthys will mainly export liquefied natural gas (LNG), but the facility will also produce condensate, an ultra-light form of crude oil, as well as liquefied petroleum gas (LPG), a fuel used largely for cooking and in transport.
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"Iran exports a total amount of 2.5 million barrel per day of crude and condensate and eliminating it easily and in a period of a few months is impossible," the oil official told the semi-official Tasnim news agency.
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The floating production, storage and offloading unit for the project finally set sail last month to the Ichthys gas-condensate field from Okpo, South Korea, and there is no further delay, Inpex's Senior Managing Executive Officer Masahiro Murayama said.
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SINGAPORE (Reuters) - The United Arab Emirates will import the country's first oil cargo from the United States, two sources familiar with the matter said, as the OPEC producer sought substitutes to replace Qatari condensate supplies after a diplomatic row.
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By 2024, if projects involving LNG, gas condensate, oil, coal, precious metals and other goods are implemented by the Russian companies, cargoes totaling around 80 million tonnes per year will be shipped via the NSR to Europe and Asia.
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"The fact that the project is liquid-rich is one of the reasons that this project is economically in good standing," an Inpex spokesman said, adding that the company has started marketing its condensate, primarily to customers in Asia.
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The emergence of a sharp peak in the later graphs confirms the formation of a Bose-Einstein condensate -- a fifth state of matter -- occurring here at a temperature of 130 nanoKelvin, or less than 1 Kelvin above absolute zero.
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HOUSTON (Reuters) - Pipeline and terminal operator Magellan Midstream Partners LP said on Thursday it had started legal action against Trafigura after the commodity trader said it would terminate a contract to use Magellan's condensate splitter in Corpus Christi, Texas.
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Bunker fuel is the heavy oil used in ships' engines and is difficult to remove from the sea once spilled, unlike condensate fuel - an extremely light form of oil - that was being shipped at the time of the collision.
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Trading sources said Valero, P66 and Russia's Litasco were among the companies lining up tankers to take U.S. crude to Europe, although it was not immediately clear whether all these cargoes would contain crude or some would contain condensate.
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