BAKU, Azerbaijan, January 21. The value of total sales at the Iran Energy Exchange (IRENEX) rose by 132 percent during the last Iranian week (Jan.13 through Jan.17, 2024), compared to the previous week (Jan.6 through Jan.10, 2024), Trend reports.
According to the report, the value of total sales at the IRENEX for the last week was around 46.8 trillion rials (about $109 million). The figure stood at 20.2 trillion rials (about $47 million) in the previous week.
Last week, nearly 126,000 tons of hydrocarbon products, worth approximately 30.1 trillion rials (about $70 million) were sold at the Iran Energy Exchange.
Of that, 8.96 trillion rials (about $20.9 million) worth of products were sold on the domestic ring, while about 21.1 trillion rials (about $49.1 million) worth of products were sold on the export ring of the IRENEX.
The main hydrocarbon products sold were liquefied petroleum gas (LPG), iso-recycle, distillation tower residue, etc.
At the same time, Standard Parallel Salaf (an Islamic contract similar to futures) documents worth 16.3 trillion rials (about $37.9 million) were also sold at the energy exchange.
Moreover, 19.1 million kilowatts of electricity worth 444 billion rials (about $1.03 million) were sold at the IRENEX.
Iran Energy Exchange (IRENEX) sells its products at the SANA exchange rate.
The SANA system is a currency exchange system implemented by the Central Bank of Iran in which the price of one euro is 468,243 rials and the price of one dollar is 429,229 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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