Following the collision of the Iranian oil tanker with the Chinese ship, one million barrels of condensate, a hydrocarbon liquid used to make petrochemicals, were lost; apart from 32 missing crew members. Bloomberg reports about the South Korean supply capacities.
Quoting a spokesperson for Hanwha Total, Bloomberg writes that the firm plans to use its stockpiles as a replacement for the supply, and is considering whether to make additional purchases. Although, the company has confirmed to have enough stockpiles of condensate, but issuing tenders for naphtha, another ingredient for petrochemicals, Bloomberg expects an increasing demand for this hydrocarbon feedstock.
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