2019 25 March Fa

NIOC to Sell Oil on IRENEX This Week

TEHRAN (PEDEC) _ The National Iranian Oil Company (NIOC) announced on Wednesday that Iran plans to sell 3 million barrels of crude oil to private companies in the third round of sales aimed at bypassing US sanctions.

“The required license has been procured from the heads of the three government powers for three million barrels of oil to be sold on Iran’s Energy Exchange (IRENEX), 100 percent in rials,” Zangeneh said on Wednesday.

However oil will be provided in foreign currencies for those who are interested in buying oil in foreign currencies, he added.

According to the Ministry of Petroleum’s Shana news agency, in the first phase of NIOC oil sale on IRENEX, (October 28), one million barrels of crude oil was supplied, but eight shipments of 35,000 barrels (equivalent to 280,000 barrels) were sold at 74 dollars and 85 cents.

In the second phase (November 11), 700,000 barrels of crude were traded at $64.97.

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29 / 12 / 2018