Iran to put 2M barrels of oil per month at energy exchange
Baku, Azerbaijan, Feb. 18
By Elnur Baghishov – Trend:
Next year (begins March 21, 2019), Iran will put 2 million barrels of crude oil and 2 million barrels of gas condensate per month on sale at the energy exchange, Trend reports referring to ISNA.
The decision has been approved by the Iranian parliament.
According to the decision, the Ministry of Petroleum of Iran should put a minimum of 2 million barrels of light crude oil, 2 million barrels of crude oil and 2 million barrels of gas from the South Pars Gas Field on sale at the energy exchange on a regular basis.
Sales can be conducted in accordance with the Iranian Stock Exchange regulations either fully in Iranian rials or in a foreign currency.
The Ministry of Petroleum should hand over a sales report to the Iranian Energy Committee every 3 months.
On February 4, the National Iranian Oil Company put 1 million barrels of oil on sale at the Energy Exchange, but there were no customers.
The company is going to put oil for sale at the Energy Exchange again on February 18.