No demand for National Iranian Oil Company's oil at IRENEX
BAKU, Azerbaijan, September 17
By Elnur Baghishov – Trend:
A total of 1 million barrels of crude oil of the National Iranian Oil Company (NIOC), that were put up for sale at the Iranian Energy Exchange (IRENEX) yesterday on September 16, were not sold, Trend reports citing IRENEX.
According to the report, a $9 discount was made for each barrel of oil following global markets.
As much as 1,000 barrels of crude oil had to be purchased for a minimum sale at the IRENEX.
Last day, a representative of the NIOC at the IRENEX, Amir Hossein Tebyanian said that the NIOC’s crude oil was not sold at the IRENEX in just the 5th month of the current Iranian year (July 22-August 21). Despite all these, there were no customers for crude oil at the Iranian Energy Exchange.
Iran has started the sale of 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.