(MENAFN) Hyundai is one of several to come online across Asia and the Middle East, boosting demand for condensate; an ultra-light form of oil, mainly used to produce chemical feedstock naphtha.
Two cargos were bought by Hyundai for about 1.1m barrels. The first cargo arrived in June and the second one is expected to arrive in August-September along with 1 million barrels of Qatari condensate.
According to sources, Hyundai Chemical and the National Iranian Oil Company are still in talks for long-term condensate supplies.
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