Baku, Azerbaijan, Sept. 2
By Elnur Baghishov – Trend:
Some 2 million barrels of heavy crude oil will be put up for sale on September 3 at the Iranian Energy Exchange (IRENEX), according to the National Iranian Oil Company (NIOC), Trend reports referring to the company’s website.
According to NIOC, the price of crude oil will be set at $50.54 per barrel.
According to the budget law for the current Iranian year (started March 21, 2019), Iran's Ministry of Petroleum should sell 2 million barrels of light crude oil, 2 million barrels of heavy crude oil and 2 million barrels of gas condensate per month.
Customers will be able to ship oil within 3 months after the sale, in locations approved by the NIOC.
Iran has put heavy crude oil up for sale 7 times since March 21, 2019, having thus far managed to sell 70,000 barrels of crude oil.
Overall, Iran began putting crude oil and gas condensate up for sale since October 28, 2018, having thus far managed to sell 1,085 million barrels of crude oil.