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Iran’s NIOC to put up crude oil for sale at IRENEX

Oil&Gas Materials 15 September 2020 14:05
Iran’s NIOC to put up crude oil for sale at IRENEX

BAKU, Azerbaijan, September 15

By Elnur Baghishov – Trend:

The National Iranian Oil Company (NIOC) will put up 1 million barrels of crude oil for sale at the Iranian Energy Exchange (IRENEX) tomorrow (September 16), a representative of the NIOC at the IRENEX, Amir Hossein Tebyanian told ILNA, Trend reports.

Tebyanian said that no changes have been made concerning the National Iranian Oil Company’s crude oil sales format.

The official added that the NIOC’s crude oil has not been put up for at the IRENEX in just the 5th month of the current Iranian year (July 22-August 21).

"Of course, despite all these, there were no customers for crude oil at the Iranian Energy Exchange," he said.

The price of crude oil for sale on the energy exchange has not been announced.

Iran has started to put up for sale crude oil and gas condensate at the Iranian Energy Exchange since October 2018. More than 1.08 million barrels of heavy and light crude oil was sold at the IRENEX until March 20, 2019.

Despite the implementation of the order of the Iranian Oil Minister Bijan Zanganeh to increase the sale of crude oil and gas condensate at the IRENEX, there was little interest in buying and selling of NIOC's crude oil and gas condensate at the IRENEX.

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