BAKU, Azerbaijan, October 23. The value of total sales at the Iran Energy Exchange (IRENEX) decreased by 28.3 percent in the 7th month of the current Iranian year (September 23 through October 22, 2023), compared to the 6th month (August 23 through September 22, 2023), Trend reports.
The value of total sales at the Iran Energy Exchange (IRENEX) was over 134 trillion rials (about $326 million) in the 7th month.
Meanwhile, in the 6th month the figure stood at around 188 trillion rials (about $455 million).
Over 516,000 tons of hydrocarbon products worth approximately 133 trillion rials (about $322 million) were sold at the Iran Energy Exchange within the 7th month, accounting for 98.8 percent of total sales at the IRENEX.
The main products sold at the country’s energy exchange for the reporting month were liquefied petroleum gas (LPG), white oil, heavy distillate, diesel, naphtha, etc.
In the seventh month, about 300 million kilowatt-hours of electricity worth 458 billion rials (about $1.1 million) were sold at the IRENEX.
At the same time, Standard Parallel Salaf (Islamic contract, similar to futures) documents worth 1.16 trillion rials (about $2.81 million) were also sold at the energy exchange for the 7th month.
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 436,664 rials and the price of $1 is 412,364 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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