Value of weekly sales at Iran Energy Exchange surges

Oil&Gas Materials 2 February 2023 10:38 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
Read more

BAKU, Azerbaijan, February 2. The value of total sales at the Iran Energy Exchange (IRENEX) increased by 79 percent, during the current Iranian week (January 28 through February 1, 2023), compared to the previous week (January 21 through January 25, 2023), Trend reports citing the IRENEX.

In total, the value of sales at the IRENEX for the current week amounted to 19.5 trillion rials (about $63.7 million).

Meanwhile, the figure stood at 10.9 trillion rials (about $35.6 million) from January 21 through January 25, 2023.

In total, more than 109,000 tons of hydrocarbon products worth 19.3 trillion rials (about $63 million) were sold at the Iran Energy Exchange within the current week, which is an increase of 177 percent in value and 56.8 percent in volume compared to the previous week.

Of that, 13.1 trillion rials (about $42.8 million) worth of products were sold on the domestic floor, while 6.2 trillion rials (about $20.2 million) worth – on the international floor.

Moreover, 2.04 million kilowatt-hours of electricity worth 1.2 billion rials (about $3,890) were sold at the IRENEX within the mentioned period.

At the same time, Standard Parallel Salaf (Islamic contract, similar to futures) documents worth about 201 billion rials (about $655,000) 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 335,110 rials, and the price of $1 is 306,930 rials.


Follow the author on Twitter:@BaghishovElnur