Reuters said in an exclusive report that South Korean oil refiners have begun testing West Texas Light(WTL) as a substitute for Iranian crude as Washington is mulling whether to allow Seoul to continue buying oil from Iran.

According to Reuters on Thursday, “WTL is seen as a potential substitute for Iranian condensate because, when refined, WTL yields a large volume of the refined product naphtha, which can be used to produce petrochemicals.” It added that “most WTL is produced in the western part of the Permian Basin in Texas.”

The report noted that “South Korea is one of Iran’s biggest Asian customers and was one of eight importers that received waivers to keep buying Iranian oil when the United States re-imposed sanctions in November.” The temporary exemption is scheduled to end on May third. 

As of the first quarter of 2018, Iranian condensate, which is highly preferred by South Korean oil refiners and petrochemicals firms due to it affordability, accounted for 51 percent of Seoul's total condensate imports.