28 Mar 2024
Tuesday 3 November 2015 - 11:19
Story Code : 187073

First-ever Afghanistan-bound gasoil traded at Iran energy stock

TEHRAN, Nov. 02 (Shana) The first trading of gasoil produced by the National Iranian Oil Company (NIOC) bound to Afghanistan was made on the Iran Energy Exchange (IRENEX) international ring on Monday.
The advance payment for the 1,000-ton gasoil consignment was priced at 419 US dollars based on Platts quotation on October 26, IRENEX Managing Director Ali Hosseini said.
After quotation of the NIOCs consignment, it was traded for 10 billion rials (334,000 US dollars), he added.

Further gasoil consignments bound to Pakistan and Turkey will be quoted on IRENEX on Tuesday.
Since its start in 2013, it was the first complete trading on the IRENEX to sell oil products to neighboring countries which is expected to be replicated by future international transactions.

It follows IRENEXs earlier sells of crude oil to domestic buyers carried out in the Iranian currency, in which the pricing is based on 30-day averages.
Petroleum Minister Bijan Zangeneh has said that the crude oil bourse trading encourages competitiveness, transaction diversity, and private sectors involvement.

Owning worlds fourth largest oil reserves and largest natural gas reserves, Iran is the biggest holder of oil and gas reservoirs combined.

By SHANA
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