Baku, Azerbaijan, Aug. 25
By Khalid Kazimov -- Trend:
For the first time in Iran, 35 thousand metric tons of fuel oil is going to be available on the international ring of the Energy Exchange on August 26.
This will be a great change in the way this product is sold, according to an announcement by the International Relations of the National Iranian Oil Company on August 25.
The amount consists of 380-centistoke fuel oil and the offering is free on board (FOB). The liquidation will be done in rials (Iranian currency).
Currently, standard parallel bond futures based on fuel oil are offered on the Iranian Energy Exchange.
Fuel oil was sold on Iran's energy bourse for the first time on July 22.
With the rise in natural gas production of the South Pars gas field, which is used to replace fuel oil at many industrial units in the country, Iran has turned into the world's largest fuel oil exporter.
A recent report put Iran's fuel oil output at 100 million liters.
Edited by CN