DOHA: Qatar International Petroleum Marketing Co, or Tasweeq, plans to renew its contract to supply condensate to the United Arab Emirates (UAE) for 2015, the company’s chief executive said yesterday.
Under the current 2014 contact, Tasweeq supplies three cargoes a month to the UAE, two to Abu Dhabi’s Emirates National Oil Company (ENOC) and one to Abu Dhabi’s National Oil company (ADNOC), Saad Al Kuwari told reporters on the sidelines of an industry event in Doha. Each cargo has 500,000 tonnes of condensate, he said.
“The ENOC contract expires soon and we plan to renew it. We will supply (ENOC) with same volumes and any extra demand will depend on availability,” said Kuwari.
Last year, ENOC said it had started importing condensate from Qatar to replace sanctioned Iranian oil.
ENOC was the biggest buyer of Iranian condensate in 2012 when its imports rose to an average of 127,000 barrels per day (bpd), up from 106,000 bpd in 2011, despite US pressure to stop the trade. Reuters
