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Weekly sales at Iran Energy Exchange drop by quarter

Oil&Gas Materials 25 September 2023 17:18 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, September 25. The value of total sales at the Iran Energy Exchange (IRENEX) decreased by 25 percent during the last Iranian week (Sept. 16 through Sept. 20, 2023), compared to the previous week (Sept. 9 through Sept. 13, 2023), Trend reports.

According to the report, the value of total sales at the IRENEX for the last week was around 50.5 trillion rials (about $123 million). The figure stood at 67.7 trillion rials (about $164 million) in the previous week.

Last week, 168,000 tons of hydrocarbon products worth approximately 50.3 trillion rials (about $122 million) were sold at the Iran Energy Exchange.

Of that, 18 trillion rials (about $43.9 million) worth of products were sold on the domestic floor, while 32.2 trillion rials (about $78.3 million) were sold on the international floor of the IRENEX.

Also, 58.7 million kilowatts of electricity worth approximately 139 billion rials (about $337,000) were sold at IRENEX within the mentioned period.

At the same time, Standard Parallel Salaf (an Islamic contract similar to futures) documents worth about 68.9 billion rials (about $167,000) were also sold at the energy exchange.

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 outlets, where the price of 1 euro is 438,554 rials and the price of $1 is 411,815 rials.

The sale of hydrocarbon products at the Iran Energy Exchange is of great importance to the country’s economy. Through the energy exchange, Iran seeks to provide hydrocarbon products needed by local companies as well as increase exports.

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