TEHRAN, Iran, July 14
Trend:
In recent years, the crude oil and gas condensate required by refineries has not been offered via energy exchange by companies affiliated with the Ministry of Oil, the CEO of Iran Energy Exchange said.
According to article 13 of the Law on the Elimination of Barriers to Production, the priority is given to the Energy Exchange for the supply of crude oil and gas condensate needed by refineries, Ali Naghavi said, Trend reports citing Fars News Agency.
"The Iran Energy Exchange has all the necessary infrastructure for the implementation of the article on the offering the refinery feedstock via energy exchange,” he said.
Naghavi went on to say that the offering of refinery feedstocks via the Iranian Energy Exchange will determine the price and increase the transparency of refineries' financial statements and increase their revenue due to a 2 percent discount on feedstock rates.
The CEO of the Energy Exchange Company noted that despite such benefits, in recent years, there was no domestic offering of crude oil and gas condensate required by the refineries through Energy Exchange.
Naghavi said that the state-owned companies affiliated with the Ministry of Oil, including the National Iranian Oil Company, are obliged to implement the laws, and on the other hand, the trade union association of the country's refineries should pursue the offering of refineries` feedstock through the energy exchange.
In the end, Naghavi stated that with continuous follow-up, gas condensate required for mini-refineries is offering regularly and continuously via the Iran Energy Exchange.