TEHRAN, Iran, Sep. 13
Trend:
The head of the Iranian parliament's economic commission called for the offering Iranian crude oil, furnace oil, and gas condensate via the energy exchange, Trend reports citing Tasnim News Agency.
In a letter to the president, Mohammadreza Pourebrahimi the head of the Iranian Parliament's economic commission stressed the need to offer crude oil, furnace oil, and gas condensate for export through the energy exchange.
In accordance with paragraphs 13 to 15 of the General Policies of the Resistance Economy, communicated by the Supreme Leader in order to counter the vulnerability of oil and gas export revenues, emphasis on diversifying oil sales methods, Pourebrahimi said in the letter to the president.
Referring to the General Policies of the Resistance Economy, he says that in paragraph 19 of the above policies, the Supreme Leader has emphasized making the economy transparent and preventing corruption.
“A look at the performance of the Ministry of Oil and its subsidiaries in recent years shows that despite the follow-up of the Economic Commission, the Ministry neglected the capacity of Stock Exchange for diversification of sales methods and the development of private sector participation in the oil sector,” he said.
He went on to say that the studies show that the Ministry of Oil and its subsidiaries rejected regular and continuous supply of crude oil, furnace oil, and gas condensate via energy exchange.
“In 2020, only four million tons of crude oil, and condensates have been offered via Energy Exchange by the National Oil Company,” Pourebrahimi noted.
Pourebrahimi proposes accelerating the launch of the futures market for crude oil, natural gas, and hydrocarbon products, along with the effective cooperation of the Ministry of Oil in developing this market.