Baku, Azerbaijan, Dec. 4
By Fatih Karimov – Trend:
The traded products at Iran Energy Exchange (IRENEX) on Dec. 4 are:
Domestic ring:
- 3 million liters of 402 solvent from Kermanshah Oil Refining Company
- 150 tons of crude fuel oil and 200 tons of naphtha heavy end from Tabriz Petrochemical Company
- 2000 tons of Iso Recycle from Isfahan Oil Refining company
- 400 tons of tar from Isfahan Steel Company
- 2 million liters of 402 solvent (Isfahan Oil Refining company)
- 348,000 liters of 400 solvent (Isfahan Oil Refining company)
- 504,000 liters of 406 solvent (Isfahan Oil Refining company)
- 138,000 liters of 410 solvent (Isfahan Oil Refining company)
- 1,495 tons of naphtha heavy end from Shazand Petrochemical company
- 1,475 tons of methanol from Zagros petrochemical company.
The total value of the dealings in the ring accounted to 201.91 billion rials (each USD - 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.