Tehran, Iran, Oct. 29
Trend:
Iran has revealed some of the details of its oil sold yesterday via the Iran Energy Exchange.
Eight shipments of 35,000 barrels of crude oil each were purchased by 3 buyers at $74.85 per barrel, an official with The Securities and Exchange Organization (SEO) told Iranian Labor News Agency.
"All buyers paid 10 percent of advance payment before entering the competition, deposited into the central securities depository,” Mohsen Khodabakhsh said.
“They must also deposit a guarantee of 125% at the banks that are qualified for issuing guarantees for crude oil traded on the floor of the Iran Energy Exchange,” said the official.
“The prices would not be attractive to multinational companies,” the SEO official said.
“Crude oil traded on the floor of the Iran Energy Exchange will be delivered on the Khark Island,” he said.
Offering crude oil started at the weekend on a large scale on Iran Energy Exchange (IRENEX) with light crude oil offered on the day. The minimum volume of purchase is 35,000 barrels.