Amir Hossein Tebyanian, a representative of NIOC at IRENEX, said, “2 million barrels of condensate will be offered at IRENEX on Monday [February 17]; The energy exchange will also offer 2 million barrels of light crude oil on Tuesday and 2 million barrels of heavy crude oil on Wednesday.”
According to him, the price of condensate would be $9 less than Dubai FOB, light crude would be priced $7 less than Brent FOB, and heavy crude would be $8.5 lower than Brent FOB.
Iran budget law for the current calendar year, which began on March 21, obliges the Iranian Ministry of Petroleum to sell at least 2 million barrels of light crude oil, 2 million barrels of heavy crude oil and 2 million barrels of gas condensate at the IRENEX.
MNA/SHANA