BAKU, Azerbaijan, May 6
By Elnur Baghishov - Trend:
The National Iranian Oil Company (NIOC) has sold 200,000 barrels of gas condensate at the Iranian Energy Exchange in the second month of the current Iranian year (starting April 20, 2020), said Amir Hossein Tebyanian, a representative of the National Iranian Oil Company (NIOC) at the Iran Energy Exchange (IRENEX), Trend reports citing the IRNA.
According to Tebyanian, the sale of the products of the NIOC on the energy exchange has resumed in the current Iranian year (starting from March 20, 2020) and crude oil sales will begin this week.
Tebyanian added that the NIOC controls the delivery of Iranian oil products by sea.
The NIOC has been selling crude oil and gas condensates on the energy exchange since October 2018. About 1.085 million barrels of heavy and light crude oil have been sold until March 20, 2019.
Despite the implementation of the Iranian Oil Minister's order to increase sales of crude oil and gas condensates at the Iranian energy exchange, there was little interest in the purchase and sale of crude oil and gas condensates of the NIOC at the energy exchange.
On April 30, 2019, the Iran's Oil Minister Bijan Zanganeh announced a new method for selling crude oil and gas condensate. Thus, according to this method, crude oil and gas condensate sold by the National Oil Company of Iran at the energy exchange should be purchased by the Iranian private sector and foreigners.