BAKU, Azerbaijan, December 24. The value of total sales at the Iran Energy Exchange (IRENEX) rose by 7.3 percent in the 9th month of the current Iranian year (November 22 through December 21, 2023), compared to the 8th month (October 23 through November 21, 2023), Trend reports.
The value of total sales at the Iran Energy Exchange (IRENEX) was 176 trillion rials (about $409 million) in the 9th month.
Meanwhile, in the 8th month the figure stood at around 164 trillion rials (about $392 million).
In the 9th month, 683,000 tons of hydrocarbon products worth 174 trillion rials (about $405million) were sold at the Iran Energy Exchange, which account for 98.8 percent of total sales at IRENEX.
Of the mentioned amount, 241,000 tons, worth approximately 55 trillion rials (about $128 million) were sold on the domestic ring, while 442,000 tons worth, 119 trillion rials (about $277 million) were sold on the export ring of the IRENEX.
At the same time, 245 million kilowatt-hours of electricity worth about 228 billion rials (about $531,000) were sold at the IRENEX in the specified period.
Furthermore, Standard Parallel Salaf (Islamic contract, similar to futures) documents worth 1.33 trillion rials (about $3.1 million) were also sold at the energy exchange for the 9th month.
Iran Energy Exchange (IRENEX) sells its products at the SANA exchange rate.
The SANA system is a currency exchange system implemented by the Central Bank of Iran in which the price of one euro is 472,783 rials and the price of one dollar is 429,515 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