As Iran supply dries up, South Korea petchem firms find new, costly oil sources
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SINGAPORE/SEOUL (Reuters) - With supply from major producer Iran uncertain, big condensate user South Korea is scouring the world for alternative sources of this key ingredient in its large chemical industry to avert shortages - a process that is proving to be costly for buyers. Condensate, a type of ultra-light crude oil, is a feedstock for South Korea's petrochemical industry.A by-product of natural gas production, Iran and Qatar are major condensate suppliers. But Iran's exports have fallen..