Baku, Azerbaijan, Dec. 2
By Fatih Karimov– Trend:
The traded products at Iran Energy Exchange (IRENEX) on Dec. 2 are:
Domestic ring: 54,000 liters of solvent 400 from Isfahan Oil Refining company, 2,452 tons of methanol from Zagros petrochemical company, 100 tons of liquefied industrial gas from Imam Port Petrochemical Company, 4000 tons of Naphtha from Tehran Oil Refining Company, 1,500 tons of Iso Recycle from Tehran Oil Rfining Company, 500 tons of Iso Recycle from Shiraz Oil Refining Company, 2.4 million liters of solvent 402 of Tabriz oil refining company, 400 tons of Iso Recycle from Tabriz Oil Refining Company.
The total value of the dealings in the ring accounted to 199.64 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.