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Iran sells 5,000 barrels of heavy crude oil in oil exchange

Oil&Gas Materials 17 August 2011 19:43 (UTC +04:00)

Azerbaijan, Baku, August 17 / Trend /

The fourth heavy crude oil cargo was sold in the Kish international oil exchange, Econews reported.

The National Iranian Oil Company placed 1 million barrels of crude oil from the Behregan oil field at price of $105.49 per barrel.

The 500,000 barrels is destined to Eastern Europe, the payment will be made in USD, euro, Turkish lira, or United Arab Emirates Dirhams AED to Iran's foreign account.

The third crude oil cargo failed to be sold in oil exchange trading because of the disagreement over price.

Managing Director of Tehran Stock Exchange Mahmoud Ghafarri said earlier Iran halts to place gasoline and furnace fuel oil in the international oil exchange in Kish Island since it failed to sell because of oil ministry high prices.

Iran's Oil Minister Rostam Ghasemi ruled out comments of stock market officials on failure to sell oil cargo in oil exchange as a result of unreasonable high oil prices, says oil price in oil exchange is fair.

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