BAKU, Azerbaijan, March 12. Foreign companies can also buy certificates of deposit for crude oil and gas condensate at the Iran Energy Exchange (IRENEX), Iranian Deputy Oil Minister and the CEO of the National Iranian Oil Company (NIOC), Mohsen Khojasteh Mehr said,Trend reports citing Shana News Agency.
According to Khojasteh Mehr, foreign companies can purchase the mentioned certificates of deposit with foreign currency.
The CEO added that legal entities can buy and sell certificates of deposit of at least 500 barrels of crude oil at the IRENEX.
"The share of the NIOC on the funds obtained by selling crude oil on the Iran Energy Exchange is considered at 14.5 percent," he said.
The deputy minister also noted that it will be possible to physically deliver crude oil to local customers for the first time in Iran with the certificates of deposit.
As reported, Iran started the sale of deposit certificates for crude oil and gas condensate at the IRENEX on March 12.
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