Oct 7, 2019, 11:00 AM

NIOC to offer 2mb of light crude at IRENEX on Oct. 8

TEHRAN, Oct. 07 (MNA) – The National Iranian Oil Company (NIOC) has planned to offer 2 million barrels of light crude oil on the international floor of the Iran Energy Exchange (IRENEX) on October 8 at $61.1 per barrel.

This will be the 16th crude oil offering by NIOC on the market in the new period and 9th offering in the current year (started March 21, 2019).

The cargo can be received up to three months after the transaction, and the delivery of the cargo in other regions is subject to NIOC approval.

Supply of crude oil in Iran Energy Exchange (IRENEX) has been put atop agenda for the realization of policies of resistance economy based on diversifying the crude sales methods and taking advantage of capacities of private sector in order to export crude oil.

As per law, the Oil Ministry is obliged to offer on a monthly basis light and heavy crude plus natural gas condensate via the energy exchange.

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News ID 150924