Iran says fuel trading at its energy exchange going smoothly

Business Materials 13 April 2021 09:24 (UTC +04:00)
Iran says fuel trading at its energy exchange going smoothly

TEHRAN, Iran, Apr.13


Trading gasoline at Iran Energy Exchange (IRENEX) during the last Iranian year (started March 20,2020) was good, CEO of Iran Energy Exchange (IRENEX) Ali Naghavi told Trend.

"Iran has become an exporter of gasoline through cooperation of the National Iranian Oil Refining and Distribution Company (NIORDC) and the Persian Gulf Star Oil Company," Naghavi said.

"Statistics indicate that gasoline was the largest part of petroleum products that were traded at the energy exchange during the last Iranian year. There was a big gasoline cargo ship for export and constant gasoline cargoes exported via land [that were traded via the energy exchange]," he said.

Naghavi said that a total of 8 million tons of gasoline (valued at $13 billion) was traded at IRENEX last Iranian year.

"The amount of gasoline offered at the energy exchange is based on domestic consumption surplus, so for now, we are waiting to see how the production and consumption in the current year goes," he said, referring to the future trades.

"In terms of other petroleum products, the National Iranian Oil Company has offered diesel, while the NIORDC has offered light naphtha at the energy exchange. The volume and value of trades in this field was high," he said.