Iran to sell crude oil at energy bourse soon

Photo: Iran to sell crude oil at energy bourse soon / Iran

Baku, Azerbaijan, March 29

By Fatih Karimov - Trend:

Iran will offer crude oil to buyers at its energy bourse as of April 6, Ghatreh website quoted Ali Hosseini, the managing director of the energy bourse as saying on March 29.

It is planned to offer 3,000 barrels of crude oil per day in the first phase in order to be bought by real users, he added.

A number of refineries operated by the private sector have announced readiness to buy crude oil at the energy bourse, he noted.

Iran's oil exports have stayed above levels allowed under Western sanctions for a fifth month, according to sources who track tanker movements, in a further sign that a deal to ease some restrictions is helping Tehran sell more crude, Reuters reported on March 26.

Under the Geneva nuclear deal, Iran's exports are supposed to be held at an average one million bpd for the six months to July 20. But shipments to Asia have topped that level at least since November, according to ship tracking data.

The U.S. administration believes that exports will fall in coming months and on average will fall to the one million bpd level stipulated by the interim agreement which went into effect on January 20.

Iran's crude exports have averaged 1.3 million barrels per day (bpd) in March, down from 1.4 million bpd in February, the report said. That is still an elevated rate, as exports of Iranian oil in 2013 averaged 1.1 million bpd.

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Tags: oil