BAKU, Azerbaijan, August 14. The value of total sales at the Iran Energy Exchange (IRENEX) increased by 250 percent during the last Iranian week (August 5 through August 9, 2023), compared to the previous week (July 29 through August 2, 2023), Trend reports.
According to the report, the value of total sales at the IRENEX for the last week amounted to approximately 37.1 trillion rials (about $89.8 million). The figure stood at approximately 10.6 trillion rials (about $25.6 million) in the previous week.
Circa 175,000 tons of hydrocarbon products worth 35.4 trillion rials (about $85.7 million) were sold at the Iran Energy Exchange within the last week.
The main hydrocarbon products sold at the country’s energy exchange were isocyanate, methanol, naphtha, etc.
Also, 5.56 million kilowatts of electricity worth 60.1 billion rials (about $146,000) were sold at IRENEX within the mentioned period.
At the same time, Standard Parallel Salaf (an Islamic contract similar to futures) documents worth approximately 1.04 trillion rials (about $2.51 million) were also sold at the energy exchange.
According to the IRENEX, 8,058 certificates of deposit for crude oil and gas condensate worth 608 billion rials (about $1.47 million) 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 and 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 at 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 453,771 rials and the price of $1 is 413,261 rials.
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