Font Size

- Aa +

Tue 17 Jul 2007 11:57 PM

Font Size

- Aa +

UAE's Dolphin to export condensates

Energy firm says first exports of condensate, a high quality light oil, will begin next month.

The United Arab Emirates' Dolphin Energy said on Tuesday it would begin its first exports of condensate next month.

The first three condensate cargoes of 500,000 barrels each from Dolphin's wells in Qatar will be delivered to bidders FOB, or free on board, at Ras Laffan Terminal in Qatar, a Dolphin statement said.

The statement did not name buyers for the condensate, a high quality light oil, extracted from Qatar's North Field.

Other by-products such as ethane, propane and butane will also be produced at the plant, the statement added.

Mubadala Development Co., run by the government of the UAE's Abu Dhabi, owns 51 % of Dolphin while France's Total and U.S. Occidental each have a 24.5 % stake.

Dolphin exports gas from Qatar to the UAE as part of a $3.5 billion project to meet rising gas demand in the UAE as its economy expands.

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.