BAKU, Azerbaijan, July 9. The value of total sales at the Iran Energy Exchange (IRENEX) increased by 51.3 percent, during the last Iranian week (July 1 through July 5, 2023), compared to the previous week (June 24 through June 28, 2023), Trend reports.
According to the report, the value of total sales at the IRENEX for the last week amounted to approximately 38.1 trillion rials (about $92.4 million). The figure stood at approximately 25.2 trillion rials (about $61 million) in the previous week.
Circa 212,000 tons of hydrocarbon products worth 37.5 trillion rials (about $90.9 million) were sold at the Iran Energy Exchange within the last week, of which accounted for 98.3 percent of total sales at the IRENEX.
Of that, about 13.7 trillion rials (about $33.2 million) worth of products were sold on the domestic floor, while 23.8 trillion rials (about $57.7 million) worth – on the international floor of the IRENEX.
The main sold hydrocarbon products at the country’s energy exchange were liquefied petroleum gas (LPG), light naphtha, and iso recycle products.
Also, 13 million kilowatt-hours of electricity worth approximately 328 billion rials (about $795,000) were sold at the country’s energy exchange within the mentioned period.
At the same time, Standard Parallel Salaf (Islamic contract, similar to futures) documents worth 216 billion rials (about $524,000) were also sold at the energy exchange.
According to the IRENEX, 4,000 certificates of deposit for crude oil and gas condensate worth 91.9 billion rials (about $222,000) were sold at the Iran Energy Exchange during the last week.
As of March 12, 2023, Iran has started the sale of certificates of deposit for crude oil and gas condensate at the Iran Energy Exchange (IRENEX). Iran intends to sell 72 million barrels (36 million barrels of crude oil, 36 million barrels of gas condensate) of crude oil and gas condensate with deposit certificates at the Energy Exchange.
Those who want to buy deposit certificates at the Iran Energy Exchange should buy at least 1,000 barrels of crude oil and 500 barrels of gas condensate. The certificates of deposit can be purchased directly by legal entities and by individuals only through portfolio companies.
The products at Iran Energy Exchange (IRENEX) are sold under the SANA exchange rate.
The SANA system is a system introduced by the Central Bank of Iran to the currency exchange offices, where the price of 1 euro is 452,548 rials, and the price of $1 is 412,588 rials.
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