BAKU, Azerbaijan, October 29. The value of total sales at the Iran Energy Exchange (IRENEX) fell by 40.2 percent during the last Iranian week (Oct. 21 through Oct. 26, 2023), compared to the previous week (Oct. 14 through Oct. 19, 2023), Trend reports.
According to the report, the value of total sales at the IRENEX for the last week was more than 27.6 trillion rials (about $66.9 million). The figure stood at over 46.2 trillion rials (about $112 million) in the previous week.
More than 104,000 tons of hydrocarbon products worth 27.5 trillion rials (about $66.7 million) were sold at the Iran Energy Exchange, which is accounting for 99.6 percent of total sales at IRENEX.
Of that, 6.66 trillion rials (about $16.1 million) worth of products were sold on the domestic ring, while 20.8 trillion rials (about $50.5 million) were sold on the export ring of the IRENEX.
The main sold hydrocarbon products were liquefied petroleum gas (LPG), white oil, naphtha, etc.
Meanwhile, the value of other sales at the energy exchange was 101 billion rials (about $245,000).
Iran Energy Exchange (IRENEX) sells its products at the SANA exchange rate.
The SANA system is a system introduced by the Central Bank of Iran to the currency exchange outlets, where the price of 1 euro is 436,046 rials and the price of $1 is 412,584 rials.
The sale of hydrocarbon products at the Iran Energy Exchange is of great importance to the country’s economy. Through the energy exchange, Iran seeks to provide hydrocarbon products needed by local companies as well as increase exports.
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