Iran says it has started exporting condensate – a form of ultra light oil - from two newly launched phases of its giant South Pars gas field to Japan.

NITC head announced that 35 Iranian tankers have been leased out to oil companies in Europe like Spain’s Cepsa and Eni of Italy.

Iran expects to sign its biggest oil refining contracts worth $8.6 billion with a number of Japanese, Chinese and Korean companies this month or later, a minister said on Wednesday.