Iran ready to put up crude oil for sale at energy exchange

Oil&Gas Materials 31 January 2022 09:32 (UTC +04:00)
Iran ready to put up crude oil for sale at energy exchange

BAKU, Azerbaijan, Jan. 31

By Elnur Baghishov – Trend:

The Iranian Energy Exchange (IRENEX) is ready to put up crude oil of the National Iranian Oil Company (NIOC) for sale, the CEO of Iranian Energy Exchange (IRENEX), Ali Naghavi said, Trend reports citing Shana News Agency.

According to Naghavi, the IRENEX has offered several formats to the NIOC for the sale of crude oil at the energy exchange.

The CEO noted that the IRENEX and the NIOC should consider each other a strategic partner to increase revenues.

As for the sale of some products at the IRENEX, Naghavi said that over 10,150 tons of methanol worth 1.15 trillion rials (about $4.58 million) were sold on the international floor of the energy exchange from the beginning of the current Iranian year (March 21, 2021) to January 30, 2022.

“Meanwhile, in the domestic floor of the IRENEX, 260,000 tons of methanol worth 18 trillion rials (about $71.6 million) were sold,” he added.

The official also pointed out that 115,000 tons of mazut were put up for sale at the IRENEX within the mentioned period, of which 85,000 tons worth 7.9 trillion rials (about $31.4 million) were sold.

“Meanwhile, in the last Iranian year (March 20, 2020 through March 20, 2021), mazut sales at the IRENEX amounted to over 210,000 tons,” he said.


Follow the author on Twitter:@BaghishovElnur