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Iran Energy Exchange performance on Nov. 29

Business Materials 29 November 2017 17:19 (UTC +04:00)

Baku, Azerbaijan, Nov. 29

By Fatih Karimov– Trend:

The traded products at Iran Energy Exchange (IRENEX) on Nov. 29 are:

Domestic ring: Traded 26 tons of methanol from Zagros petrochemical company, 24,000 liters of solvent 410 from Abadan Oil Refining Co., 126 tons of CSO from Shazand Oil Refining company, 4 million liters of solvent 402 of Kermanshah oil refining company.

International ring: Traded over 1,998 cubic meters of solvent 402 from Isfahan Oil Refining company.

The total value of the dealings in the both rings accounted to 111.8 billion rials (each USD makes 35,000 rials).

IRENEX is a market for trading energy futures and commodities, including oil, gas, electricity, petrochemicals and oil byproducts. It was launched in 2013 as the fourth official Iranian exchange and operates under the supervision and regulations of the Securities and Exchange Organization of Iran.

More than 100 companies, including petrochemical plants, refineries and power plants, offer their commodities at the exchange, according to the IRENEX website.

The Oil Ministry tested the waters for selling crude in the commodity market in 2014, offering 100,000 barrels of oil per day at IRENEX, but the move got lukewarm response from buyers, primarily because the crude oil was not priced competitively.

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