Iranian Energy Exchange discloses volume of buying, selling goods
BAKU, Azerbaijan, Feb. 17
By Elnur Baghishov – Trend:
The value of buying and selling goods at the Iranian Energy Exchange (IRENEX) over the first 10 months of the Iranian year (March 21, 2019 - 20 January 2020) amounted to 450 trillion rials ($1.07 billion), Head of Iran's Securities and Exchange Organization (SEO) Shapour Mohammadi said at a conference on the development of financial structures in the oil industry, Trend reports referring to the Iranian Shana News Agency.
Mohammadi said that this indicator has been 20-30 trillion rials (about $476-714 million) in recent years.
At present, with the positive cooperation of the Iranian Oil Ministry and the IRENEX, the sale of oil products at is in a favorable position, Mohammadi added.
Commenting on the sale of corporate bonds in various projects, the head of the SEO said that bonds worth 50 trillion rials (about $1.19 billion) were announced for sale to the Iranian Oil Ministry, adding that there are many ways for financial security.
Mohammadi noted that Iran's main wealth is oil and gas, and so far, many activities have been carried out to secure the national wealth.
In general, there are 125 oil fields and 59 gas fields in Iran. Iran’s total hydrocarbon reserves are 836 billion barrels. With the technology equipment, it is possible to extract 239 billion barrels. Iran may use 29 percent of the reserves, while 71 percent remain underground.