Foreigners to be able to buy oil at Iranian energy exchange
Baku, Azerbaijan, July 8
By Elnur Baghishov – Trend:
Conditions have been formed with the assistance of Iran's Securities & Exchange Organization (SEO) for the participation of foreign citizens in the purchase of Iranian oil at the energy market, Amir Hossein Tebyanian, representative of National Iranian Oil Company (NIOC) at the Iranian energy exchange (IRENEX), told IRIB, Trend reports.
According to Tebyanian, natural persons from foreign countries have expressed their interest in participating in the purchase and sale of crude oil at IRENEX.
Noting that conditions had been previously created for legal persons from foreign countries to participate in the Iranian energy market, the official added that from now on natural persons of all countries having bilateral relations with Iran can also participate as the clients in purchase and sale operations at the Iranian energy exchange.
"All these processes, including the policy of confidentiality of the names of customers intended for local customers, will be reserved for foreign citizens as well," he said.
Tebyanian added that foreign legal and natural persons can participate in purchases and sales with a stock code and code of being a foreign citizen.
According to him, in accordance with the instruction of the Iranian Minister of Petroleum, light and heavy crude oil and gas condensates are being put up for sale at the energy exchange once every two weeks.
Iran commenced placing crude oil and gas condensates up for sale at the energy exchange starting from October 28, 2018. So far, 1,085,000 barrels of crude oil have been sold at the energy exchange.