Iran fails to sell second heavy crude oil cargo in oil exchange

Azerbaijan, Baku, August4 /Trend/

Iran priced a second heavy crude oil cargo at $113.87 per barrel in the international oil exchange at Kish Island Wednesday, which has been failing to sell due to price disagreement, Pananews reported.

The National Iranian Oil Company disagreed with customer's price offers of $109.87 per barrel. The oil cargo has failed to sell for the second time.

The Managing Director of the National Iranian Oil Company's International Affairs office Mohsen Ghamsari said, "we seeks national interest and there is no reason to give unreasonable discount".

The third heavy crude oil cargo will be placed on Wednesday. The price will be determined based on the price of oil in the global market, he added.

The National Iranian Oil Company brought 600,000 barrels of crude oil from the Behregan oil field. Iran's heavy oil cargo will head toward Europe's eastern, Mediterranean and northwest regions on Aug. 20 to 30.

The payment will be made in USD, euro, Turkish Lira, or United Arab Emirates Dirhams AED to Iran's foreign account.

The first heavy crude oil cargo was set at a price of $112.65 on July 13, but failed due to disagreements over the price.

Previously Iran's third attempt to sell a furnace fuel oil cargo was successful on the international oil bourse at Kish Island.

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

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