Qatar Petroleum this week announced that it has sealed a deal to supply ExxonMobil’s Singapore division with condensate for five years. Starting from last month, QP will supply Exxon with a total of 6mn barrels per year of its Low Sulfur Condensate (LSC: 58°API 0.2% sulfur), which works out at just over 16,000 b/d. QP typically produces around 300,000 b/d of LSC, out of some 750,000 b/d condensate in total. Qatar has condensate splitters with total capacity of 349,000 b/d, leaving around 400,000 b/d for export.
QP says the deal is its “first condensate long-term sale to an end-user in Singapore” highlighting its “push for more direct sales with established end-users.” Minister of State for Energy and QP CEO Saad al-Kaabi says “this is another milestone in our drive to directly reach well-established Asian end users.” Expect more such deals going forward. (CONTINUED - 142 WORDS)