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Iran to put up 6M barrels of crude oil & gas condensate for sale

Oil&Gas Materials 14 November 2019 14:17
Iran to put up 6M barrels of crude oil & gas condensate for sale

BAKU, Azerbaijan, Nov. 14

By Elnur Baghishov - Trend:

Iran will put up 6 million barrels of light and heavy crude oil and gas condensate for sale next week, said Amir Hossein Tebyanian, a representative of the National Iranian Oil Company (NIOC) at the Iran Energy Exchange (IRENEX), Trend reports citing the company’s website.

Tebyanian noted that 2 million barrels of gas condensate shall be sold on Nov. 18 for $57.8 per barrel.

The NIOC representative added that 2 million barrels of light crude oil will be put up for sale on Nov. 19 for $56.7 per barrel.

Besides, 2 million barrels of heavy crude oil will be put up for sale on Nov. 20 for $52.7 per barrel, Tebyanian said.

Under the Iranian budget law for the current Iranian year (started March 21, 2019), Iran's Petroleum Ministry should put two million barrels of light crude oil, two million barrels of heavy crude oil and two million barrels of gas condensate up for sale every month.

Customers can have the purchased oil be delivered to them in locations approved by NIOC within three months after the sale.

Iran started putting crude oil and gas condensates up for sale since October 28, 2018. Slightly more than 1 million barrels have so far been sold at the exchange.

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