With Iranian and Qatari condensate no longer an option, the UAE's Dubai has turned to Libya as well as the US as the key source of condensate imports. Dubai has been the war-torn North African country’s top condensate customer since 2019 despite the UAE’s foreign policy being strongly against the Tripoli government to which revenues flow.
In 2019, Libya exported 21,000 b/d of condensate to the UAE making up 81% of the country’s total condensate exports, according to data intelligence firm Kpler. And while in the first six months of 2020 exports have fallen to 14,000 b/d (production has also fallen), the UAE’s share of overall Libyan supplies has risen to 84%. If it wasn’t for a 492,000-barrel cargo to China in March, the UAE would have been Libya’s only condensate customer so far this year (see chart 1). (CONTINUED - 541 WORDS)