BAKU, Azerbaijan, June 6. The value of total sales at the Iran Energy Exchange (IRENEX) increased by 77.5 percent, during the last Iranian week (May 27 through May 31, 2023), compared to the previous week (May 20 through May 24, 2023), Trend reports.
According to the report, the value of total sales at the IRENEX for the last week amounted to approximately 31.6 trillion rials (about $75 million). The figure stood at 17.8 trillion rials (about $39 million) in the previous week.
In total, about 149,000 tons of hydrocarbon products worth 28.7 trillion rials (about $68.2 million) were sold at the Iran Energy Exchange within the last week, of which accounted for 91 percent of total sales at the IRENEX.
The main sold hydrocarbon products at the country’s energy exchange were light naphtha, reformate and iso recycle products.
Also, 39.7 million kilowatt-hours of electricity worth 391 billion rials (about $927,000) 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 2.18 trillion rials (about $5.2 million) were also sold at the energy exchange.
According to the IRENEX, 12,000 certificates of deposit for crude oil and gas condensate worth approximately 292 billion rials (about $692,000) were sold at the Iran Energy Exchange during the last 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 451,647 rials, and the price of $1 is 421,351 rials.
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