Tehran, Iran, Oct.26
Trend:
Foreigners can buy Iranian crude oil via the Stock Exchange by obtaining a special trading code, National Iranian Oil Company's managing director Ali Kardor said.
Referring to the supply of crude oil via the stock exchange, he said that more than 100 foreign trade codes have been received on the energy exchanges through which the foreigner can buy Crude and petroleum products.
“The Oil Ministry and the National Oil Company have serious intention to offer the crude oil via the stock exchange, Ali Kardor was quoted as saying.
Iran's crude oil offers via the exchange will begin on October 28. The volume of oil supply on the stock exchange is one million barrels a day.
The sale of oil on the stock exchange is 20 percent in Rials and 80 percent in FOREX currency. Rial will settle in cash before delivery and FOREX currency will settle in the form of credit, with the provision of bank guarantee.