Iran puts crude oil up for sale

Oil&Gas Materials 14 January 2020 13:27 (UTC +04:00)
Iran puts crude oil up for sale

BAKU, Azerbaijan, Jan. 14

By Elnur Baghishov - Trend:

The National Iranian Oil Company (NIOC) will put two million barrels of crude oil up for sale at the Iran Energy Exchange (IRENEX) on Jan. 14, Trend reports referring to the IRENEX.

The initial price for each barrel of the crude oil will be $60.14.

Along with crude oil, NIOC will also put gasoline up for sale

Furthermore, Tabriz Petrochemical Company, Jam Petrochemical Company, Shazand Petrochemical Company, Zagros Petrochemical Company, Shiraz Petrochemical Company and Kaveh Methanol Company will also put their products up for sale at IRENEX.

According to IRENEX, 43,700 tons of hydrocarbon products worth over 2.8 trillion rials (roughly $21.7 million according to SANA exchange rate) were sold at the exchange on Jan.13.

Iran started putting crude oil and gas condensates up for sale in October 2018. However, to date, Iran has sold slightly over one million tons of crude oil.