Iran is set to supply 50% more condensate to Chinese state-owned trader under a renewed one-year supply contract, Reutershas reported.

The National Iranian Oil Company (NIOC) has signed a deal with Zhuhai Zhenrong Corp to supply 100,000 barrels per day (bpd) of condensate starting in August.

NIOC, which has been looking to raise exports to Zhuhai since the second half of 2015, signed the deal about two weeks ago raising supplies from 2mn barrels per month to

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