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The Islamic Republic of 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.
Iran has delivered the fourth cargo of crude oil condensate to Venezuela since the start of this year, citing a Venezuelan member of parliament.
Condensate is vital for Venezuela’s state oil company PDVSA as it has virtually no other options of importing it amid US sanctions.
The superlight crude is used to blend into PDVSA’s superheavy crude to make it more liquid and therefore easier to export, Reuters news agency reported.
The two countries earlier this year formalized a swap deal under which Iran would continue supplying condensate to Caracas and received Venezuelan crude in return.
