Iran Delivers 4th Gas Condensate Cargo to Venezuela
TEHRAN (FNA)- Iran delivered the fourth shipment of its gas condensate to Venezuela in line with concluding a contract with Venezuela for exporting gas condensate and importing crude oil in return.
Condensate is vital for Venezuela's state oil company PDVSA as it has virtually no other options of importing it amid US sanctions.
Iran delivered the fourth cargo of condensate to Venezuela since the start of this year..
The superlight crude is used to blend into PDVSA's superheavy crude to make it more liquid and therefore easier to export.
Earlier this year, Iran and Venezuela formalized a swap deal under which Iran would continue supplying condensate to Caracas and received Venezuelan crude in return.