Iran’s deputy oil minister reveals details of oil sale via Stock Exchange (Exclusive)
Tehran-Iran, Oct. 7
Offering of oil via the stock exchange in Iran is on the verge of implementation, Iranian Deputy Oil Minister Marzieh Shahdaei said in an interview with Trend.
She noted that Iran's oil could have foreign buyer as well as domestic customer on the stock exchange.
Regarding the Iranian oil supply via the stock exchange, she said: "We have taken government approvals to help us succeed in adopting policies."
She added that the oil supply via the stock exchange could be offered to both the foreign purchaser and the domestic customer.
"In this regard, the oil will be offered based on the terms and conditions that exist on the stock exchange,” deputy minister of oil said.
She said that at the beginning the shipments will not be based on contracts that were always conducted by oil ministry.
“We start by offering smaller oil packages and sections via the stock exchange and will develop the plan if successful,” Shahdaei said.
The head of state-run National Iranian Oil Company, Ali Kardor announced earlier that Iran may start offering oil via its stock exchange.
He also said that one million barrels of oil will be offered on the stock exchange which will only be for export.