Baku, Azerbaijan, May 26
By Elnur Baghishov – Trend:
The Iranian National Oil Company will put up for sale two million barrels of crude oil at the energy exchange on May 28, Trend reports referring to the Iran Energy Exchange.
The initial price of crude oil will be announced in accordance with the mechanism approved at the Iran Energy Exchange.
Today, 300 tons of products of Shiraz Oil Refining Company will be put up for sale at the Iran Energy Exchange. Each kilogram of the product will cost 58,624 rials ($1.39 according to the official exchange rate, $0.41 upon the exchange rate in the black market).
Some 500 tons of heavy crude oil of Shiraz Oil Refining Company will be put up for sale. Each kilogram of the product will cost 50,558 rials ($1.2 according to the official exchange rate, while $0.36 upon the exchange rate in the black market).
According to the new guidelines for the sale of oil and gas condensate at the Iran Energy Exchange, at least 2 million barrels of light oil, 2 million barrels of heavy oil and 2 million of gas condensate must be put up for sale per month.
The Iranian National Oil Company put up for sale heavy and light crude oil at the Iran Energy Exchange several times. So far, 1.015 million barrels of light oil and 70,000 barrels of heavy oil were sold at the Iran Energy Exchange.
