Iran to sell mazut in Energy Exchange

Oil&Gas Materials 15 March 2020 14:02 (UTC +04:00)
Iran to sell mazut in Energy Exchange

BAKU, Azerbaijan, March 15

By Elnur Baghishov - Trend

Iran's National Oil Company will put up for sale Mazut on March 17 at the Energy Exchange, said Amir Hussein Tibyanian, a representative of the National Iranian Oil Company in the Energy Exchange, Trend reports citing the Company's website.

According to Tibyanian, the Iranian National Oil Company will sell 35,000 tons of mazut last time in the current Iranian year (began March 21, 2019).

Tibyanian added that the initial price for one ton of mazut will be $189.56.

Company official said that prior to the sale, 10 percent of the sales must be paid by the Iranian National Oil Company. The minimum sales will be 25 tons.

Iran's National Oil Company has started selling heavy and light crude oil and gas condensate in October 2018 at the Energy Exchange. So far 1,085 million barrels of crude oil have been sold at the energy exchange.