South Korea to scour globe in hunt for Iran oil replacement

South Korea is likely to return to a familiar game plan to replace Iranian oil it will no longer have access to after May now that the United States intends to tighten sanctions on Iran’s exports.South Korea is the biggest buyer of Iranian condensate, an ultralight oil prized by the country’s refiners as a raw material for petrochemicals manufacturing.SK Incheon Petrochem, Hyundai Oilbank and Hanwha Total Petrochemical are set to once again scan the world for alternative, but more expensive,…