Baku, Azerbaijan, Aug. 5
By Elnur Baghishov– Trend:
While the Iranian crude oil is intended to be sold at the energy exchange, no proper means have been created for its export, Iranian energy and oil expert Narsi Ghorban said in a statement published on the website of Tehran Chamber of Commerce, Industry, Mines and Agriculture, Trend reports.
According to him, the stock exchange does not have enough storage facilities for oil customers to store oil.
"In addition, customers also have problems with the transportation of the purchased products," he said.
He noted that the private sector does not have big and sufficient financial resources for trading in the oil market, and the customers with financial resources are also limited.
"Even if a barrel of crude oil will be offered at the energy exchange for $1 per barrel, the private sector will not be interested in trading at the energy exchange unless financial, technical and freight issues are resolved," he said.
Iran began putting crude oil and gas condensates up for sale at the energy exchange on October 28, 2018, but has so far managed to sell only 1.085 million barrels of crude oil at the exchange.