Mohammad-Reza Mirtajeddini added, “Zeroing Iran’s floating condensate stocks, multiplying oil sales, boosting relations with neighbors in the energy sector, promoting energy diplomacy, and developing phases of the South Pars gas field are among the important measures the Oil Ministry of the 13th administration has carried out.”

Many countries, including South Korea, China, India, and Japan, reduced their imports of Iranian crude oil and gas condensates when the U.S. reimposed sanctions against Iran’s oil industry in November 2018. That is why the previous administration failed to sell gas condensates and decided to purchase tankers and store them offshore to prevent the South Pars field from stopping its production.

Some of the tankers floated on water for more than three years.

The parliamentarian commended the Oil Ministry for reducing gas condensate inventory to zero, describing it as a “great” success.

Mirtajeddini added the ministry has also signed good contracts with domestic companies, namely knowledge-based firms, and with foreign countries, including neighboring states, which will shape a bright future for the country’s oil and gas industry.