NIOC to sell 6mb of crude oil, gas condensate at IRENEX

TEHRAN, Feb. 17 (MNA) – The National Iranian Oil Company (NIOC) has planned to sell 6 million barrels of heavy and light crude oil and gas condensate at the international floor of the Iran Energy Exchange (IRENEX).

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

News Code 155704

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