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Report: Samsung Total Petrochemicals ceases purchases of Iranian condensate

9:43 AM MST | February 13, 2013 | Francinia Protti-Alvarez

Samsung Total Petrochemicals (STP; Seoul), a joint venture between Samsung and Total, has ceased purchasing condensate from Iran, according to a report by Reuters. The report says the decision was made at the request of Total, and it quotes Patrick Pouyanné, president of Total's refining and chemicals business. STP made only one spot purchase of condensate from Iran, and no more will follow, the report says. Various media reports said in late January that STP had reinstated a contract for Iranian condensate after a one-year hiatus, attracted by the...

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