Iran to offer diesel, LPG via its energy exchange
TEHRAN, Iran, Oct.22
Through coordination with three major subsidiaries of the Ministry of Oil namely National Iranian Oil Company (NIOC), National Iranian Gas Company (NIGC) and National Iranian Oil Refining and Distribution Company (NIORDC), a set of oil products are offered via the Energy Exchange, Iran Energy Exchange CEO said.
Referring to the increase of the supply on the energy exchange, Iran Energy Exchange CEO Seyed Ali Hosseini said that LPG which in the past was only distributed by NIORDC, will now offer via the Energy Exchange.
“Next week, 13,000 tons of LPG will be supplied by the National Gas Company via Energy Exchange,” he said.
“In the past, diesel was also offered through the National Oil Refining and Distribution Company, but now the diesel would also be offer via Iran Energy Exchange,” he added. “So that shoppers who wish to ship diesel by sea can take advantage of this opportunity.”
Hosseini explained that according to the Energy Exchange regulations, buyers must deposit money in order to be able to compete in Energy Exchange.
He said the oil products belong to the whole nation of Iran.
"Therefore, everyone is obliged to protect these products, so it is necessary to receive deposit from buyers.”
The CEO of the Iranian Energy Exchange called receiving the advance payment as right, legal and in support of protecting the rights of the people and the government.
"There is a need to build the belief among decision makers, the public and the media that the stock market offers more competitiveness and transparency to the benefit of the people and the country."
"This will also help gradually get more buyers into this market and suppliers,” he said.