Iran to offer 2 million barrels of condensate cargo at energy exchange

Tehran, Iran, Aug.3

Trend;

Iran is to hold the 9th round of gas condensate offering on August 6 by supplying two million barrels of gas condensate from South Pars gas field at the energy exchange.

The National Iranian Oil Company (NIOC) has announced that 9th gas condensate offering at Iran Energy Exchange (IRENEX) will be based on the price set at $60.17 per barrel, Trend reports citing IRNA.

Iran is offering gas condensate at the energy exchange since 2018. The minimum weight for loading cargo for land transportation is 1,000 barrels or 110 tons.

The buyers (which bought oil products via the Energy Exchange) will receive the cargo within three months after trading, while delivery to others will depend on the NIOC approval.

Following the US withdrawal from Iran’s nuclear deal and vowing to reduce Iran's oil exports to zero, Iran has been taking various measures to counter the US sanctions.

The crude oil and gas condensate offering at Iran energy exchange is a policy to improve economy and to create diverse ways to export and sell the products via private sector.

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