Trump Iran Deal Pull-Out Deepens Dubai Refiner's Supply Dilemma - Bloomberg

Trump Iran Deal Pull-Out Deepens Dubai Refiner's Supply Dilemma - Bloomberg:

"One of the unknowns in Donald Trump’s decision to restore sanctions on Iran’s petroleum exports is whether the U.S. will also restrict the country’s substantial sales of condensate.

The lack of clarity compounds a dilemma for Iran’s neighbor Dubai, potentially cutting off the emirate’s main refinery from the Middle East’s biggest supplier of condensate, a light oil found with natural gas. Dubai’s government-owned refiner Emirates National Oil Co. imports about three condensate cargoes a month from Iran, or the equivalent of more than 100,000 barrels a day, according to Bloomberg tanker tracking.

If the U.S. tries to curb Iran’s condensate sales -- the Trump administration hasn’t specified if it will -- Dubai will have to find another supplier or risk financial penalties. And unlike the earlier U.S. energy sanctions in 2012-2015, this round coincides wth a diplomatic dispute between Dubai and the region’s second-largest condensate exporter, Qatar."



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