Iran starts first shipment of gasoline supply sold in stock exchange

Business Materials 23 May 2011 18:43 (UTC +04:00)

Azerbaijan , Baku, May 23 /Trend/

Iran 's first batch of 20,000 tons export gasoline offered by Iran's Commodity market loaded in Bandar Abbas port, SHANA reported.

The volume of gasoline with 87 octane sold $1,012 per tons on May18 in Iran's Commodity market and shipped in Banadar Abbas port.

The trade of gasoline in Iran's commodity market is based on USD and FOB Persian Gulf.

Bandar Abbas Oil Refining Company (BAORCO) delivered 20,000 tons of gasoline for export to Iran's International Oil Bourse on Kish Island.

Iran 's Oil bourse officially entered Iran's Stock Market by the first trade of gasoline shares in Iran's International Oil Bourse.

The National Iranian Oil Refining and Distribution Company (NIORDC) committed to offer at least 30,000 tons of gasoline to Oil Bourse, he added.

Iran has OPEC's second-highest oil output, and ranks second in the world in terms of natural gas reserves after Russia.

The increase in Iran's trade comes despite tightened United States and European Union sanctions imposed since the summer of 2010 against the Islamic republic, especially targeting its oil sector, due to its disputed nuclear program.