BAKU, Azerbaijan, December 3. The value of total sales at the Iran Energy Exchange (IRENEX) fell by 61.7 percent during the last Iranian week (Nov. 25 through Nov. 29, 2023), compared to the previous week (Nov. 18 through Nov. 22, 2023), Trend reports.
According to the report, the value of total sales at the IRENEX for the last week was around 20.9 trillion rials (about $49.6 million). The figure stood at about 54.6 trillion rials (about $131 million) in the previous week.
Last week, 101,000 tons of hydrocarbon products worth 20.7 trillion rials (about $49.2 million) were sold at the Iran Energy Exchange, which accounts for 99.2 percent of total sales at IRENEX.
Of that, 10.2 trillion rials (about $24.3 million) worth of products were sold on the domestic ring, while 10.5 trillion rials (about $24.9 million) were sold on the export ring of the IRENEX.
The main hydrocarbon products sold were liquefied petroleum gas (LPG), naphtha, various grades of solvents, etc.
Meanwhile, the value of other sales at the energy exchange was 131 billion rials (about $311,000).
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 457,781 rials and the price of $1 is 420,781 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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