Economics
Dubai’s ENOC Seeks Oil Condensate Supply to Replace Iran Imports
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Emirates National Oil Co., Dubai’s government-owned refiner, is seeking new suppliers of condensate to replace imports from Iran because U.S. sanctions threaten financial penalties for companies that trade with the country.
The refiner, known as ENOC, is “currently finalizing contracts” for condensate supply over coming years, ENOC said in an e-mailed statement yesterday. ENOC already buys condensate, a light hydrocarbon liquid found along with crude oil or natural gas, from the Persian Gulf state of Qatar, according to the statement.