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Iran's first oil cargo fails to sell on oil exchange

Oil&Gas Materials 14 July 2011 12:11
Iran's first oil cargo fails to sell on oil exchange

Azerbaijan, Baku, July 14 /Trend/

Iran's first crude heavy oil cargo failed to sell at $112.65 on international oil exchange at Kish Island on Wednesday due to lack of agreement between customers and supplier, Pananews reported.

The National Iranian Oil Company put 600,000 barrels of crude heavy oil on international oil exchange at price of $112.65.

Six customers put a demand for the cargo. The National Iranian Oil Company agreed to reduce the price by $1, while the supplier and costumers did not reach final agreement on price.

The National Iranian Oil Company will put the oil cargo on oil exchange for the second time next Wednesday.

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