Iran observes decline in value of weekly sales at IRENEX

Oil&Gas Materials 9 February 2023 12:28 (UTC +04:00)
Iran observes decline in value of weekly sales at IRENEX
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, February 9. The value of total sales at the Iran Energy Exchange (IRENEX) decreased by 12.3 percent, during the current Iranian week (February 4 through February 8, 2023), compared to the previous week (January 28 through February 1, 2023), Trend reports citing the IRENEX.

In total, the value of sales at the IRENEX for the current week amounted to 17.1 trillion rials (about $55.9 million).

Meanwhile, the figure stood at 19.5 trillion rials (about $63.7 million) from January 28 through February 1, 2023.

In total, approximately 74,400 tons of hydrocarbon products worth 15 trillion rials (about $48.7 million) were sold at the Iran Energy Exchange within the current week, which is a decrease of 22.7 percent in value and 32 percent in volume compared to the previous week.

Of that, 5.26 trillion rials (about $17.1 million) worth of products were sold on the domestic floor, while 9.7 trillion rials (about $31.6 million) worth - on the international floor of the IRENEX.

Moreover, 47.5 million kilowatt-hours of electricity worth 36.4 billion rials (about $119,000) were sold at the country’s energy exchange within the mentioned period.

At the same time, Standard Parallel Salaf (Islamic contract, similar to futures) documents worth about 2.15 trillion rials (about $7 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 329,475 rials, and the price of $1 is 306,930 rials.


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