Iran sold a light hydrocarbon liquid pumped from its South Pars fields to South Korea’s Hanwha Total Petrochemicals Ltd., as the removal of sanctions help it challenge producers of similar supplies such as Qatar. The National Iranian Oil Co. will load in April a cargo of condensate to be shipped to the South Korean petrochemical maker, according to an official from the state-run producer in the Middle East nation. That’s the first shipment of supply from the offshore South Pars natural gas fields to the Asian company, which had been purchasing Qatar’s competing Deodorized Field Condensate while sanctions were in place on the Persian Gulf state. The premium traders pay over benchmark Dubai crude prices for the Qatari supply is predicted to shrink amid expectations that cargoes of similar-quality South Pars condensate, a raw material for chemical factories, will become available to buyers. Iran has vowed to regain the […]