BAKU, Azerbaijan, March 16. The value of total sales at the Iran Energy Exchange (IRENEX) increased by 187 percent, during the current Iranian week (March 11 through March 15, 2023), compared to the previous week (March 4 through March 7, 2023), Trend reports citing the IRENEX.
Overall, the value of sales at the IRENEX for the current week amounted to approximately 85.8 trillion rials (about $213 million).
Meanwhile, the figure stood at 29.9 trillion rials (about $69.5 million) during March 4 through March 7, 2023.
More than 302,000 tons of hydrocarbon products worth about 72 trillion rials (about $179 million) were sold at the Iran Energy Exchange within the current week. This is an increase of 176 percent in value and 142 percent in volume compared to the previous week.
Of that, 11.6 trillion rials (about $28.9 million) worth of products were sold on the domestic floor, while 60.3 trillion rials (about $150 million) worth - on the international floor of the IRENEX.
Also, 562 million kilowatt-hours of electricity worth approximately 404 billion rials (about $1 million) 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 1.08 trillion rials (about $2.7 million) were also sold at the energy exchange.
According to the IRENEX, 100,321 certificates of deposit for crude oil and gas condensate worth 2.53 trillion rials (about $6.3 million) were sold at the Iran Energy Exchange during the current week.
As of March 12, 2023, Iran has started the sale of certificates of deposit for crude oil and gas condensate at the Iran Energy Exchange (IRENEX). Iran intends to sell 72 million barrels (36 million barrels of crude oil, 36 million barrels of gas condensate) of crude oil and gas condensate with deposit certificates at the Energy Exchange.
Those who want to buy deposit certificates at the Iran Energy Exchange should buy at least 1,000 barrels of crude oil and 500 barrels of gas condensate. The certificates of deposit can be purchased directly by legal entities and by individuals only through portfolio companies.
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 423,407 rials, and the price of $1 is 402,000 rials.
---
Follow the author on Twitter:@BaghishovElnur