Iran to put oil for sale at IRENEX energy exchange
Baku, Azerbaijan, Feb. 13
By Elnur Baghishov – Trend:
The National Iranian Oil Company (NIOC) will put oil for sale on February 18 at the IRENEX energy exchange, Trend reports referring to the NIOC’s website.
According to the report, 1 million barrels of oil will be sold. The initial cost of each barrel is set at $56.81.
A minimum of 35,000 barrels can be sold at the exchange. The initial payment is 6 percent and it is possible to pay fully in Iranian rials (IRR). Also, the full payment is to be made within 90 days from the date of the loading of oil.
On February 4, the NIOC put 1 million barrels of oil for sale at IRENEX; however, there were no customers.