Value of weekly sales at Iran Energy Exchange down

Oil&Gas Materials 5 January 2023 10:15 (UTC +04:00)
Value of weekly sales at Iran Energy Exchange down
Elnur Baghishov
Elnur Baghishov
Read more

BAKU, Azerbaijan, January 5. The value of total sales at the Iran Energy Exchange (IRENEX) decreased by 57 percent, during the current Iranian week (December 31, 2022 through January 4, 2023), compared to the previous week (December 24 through December 28, 2022), Trend reports citing the IRENEX.

So, the value of total sales at the IRENEX for the current week amounted to 22 trillion rials (about $71.7 million).

Meanwhile, the figure stood at a total of 51.3 trillion rials (about $167 million) from December 24 through December 28, 2022,

In total, approximately 133,000 tons of hydrocarbon products worth about 21.4 trillion rials (about $69.7 million) were sold at the Iran Energy Exchange within the current week, which is a decrease of 55 percent in value and 56 percent in volume compared to the previous week.

Of that, 13.9 trillion rials (about $45.2 million) worth of products were sold on the domestic floor, while 7.53 trillion rials (about $24.5 million) worth – on the international floor.

Moreover, 10 million kilowatt-hours of electricity worth 7.17 billion rials (about $23,300) were sold at the IRENEX within the mentioned period.

At the same time, Standard Parallel Salaf (Islamic contract, similar to futures) documents worth 602 billion rials (about $1.96 million) were also sold at the energy exchange.

The products at Iran Energy Exchange (IRENEX) are sold under the SANA exchange rate.

The SANA system is a system introduced by the Central Bank of Iran to the currency exchange offices, where the price of 1 euro is currently 325,893 rials, and the price of $1 is 306,930 rials.


Follow the author on Twitter:@BaghishovElnur