Tehran, Iran, March 25
Trend:
National Iranian Oil Company (NIOC) will issue the condition of oil offerings at Iran Energy Exchange on March 25.
"The oil offering conditions would be issued on March 25 and it has not changed from the last oil offering since March 17," said the National Iranian Oil Company representative Amir Hossein Tebyanian, Trend reports citing Mehr News Agency.
He went on to say that there wouldn't be any oil and gas condensate offerings at the energy exchange throughout the new Iranian year (started March 21, 2019) holiday, while the international oil markets continue working.
"There wouldn't be any oil and gas condensate offerings since the banking system and the exchanges aren't active, but the offerings at the energy exchange continue, because of the NIOC's legal obligations and to attract customers," he added.
Referring to transparency in the energy exchange he said that NIOC has created transparent conditions for trading, however the names of the clients remain confidential due to sanctions on Iran.
At the seventh round of oil offering in March17, the National Iranian Oil Company (NIOC) offered one billion barrels of crude oil at the base price of $61.73 at IRENEX.