...

Weekly sales at Iran Energy Exchange soar

Oil&Gas Materials 9 October 2023 05:00 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
Read more

BAKU, Azerbaijan, October 9. The value of total sales at the Iran Energy Exchange (IRENEX) increased by 41.5 percent during the last Iranian week (Sept. 30 through Oct. 4, 2023), compared to the previous week (Sept. 23 through Sept. 27, 2023), Trend reports.

According to the report, the value of total sales at the IRENEX for the last week was 23.6 trillion rials (about $57.3 million). The figure stood at around 16.7 trillion rials (about $40.4 million) in the previous week.

Last week, 83,500 tons of hydrocarbon products worth 23.4 trillion rials (about $56.8 million) were sold at the Iran Energy Exchange, which is accounting for 99 percent of total sales at IRENEX

Of that, 8.04 trillion rials (about $19.5 million) worth of products were sold on the domestic ring, while 15.4 trillion rials (about $37.3 million) were sold on the export ring of the IRENEX.

Meanwhile, the value of other sales at the energy exchange was 207 billion rials (about $502,000).

Iran Energy Exchange (IRENEX) sells its products 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 436,594 rials and the price of $1 is 412,099 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.

---

Follow the author on X (Twitter):@BaghishovElnur

Tags:
Latest

Latest