NIOC names banks qualified to issue guarantee

SHANA – The National Iranian Oil Company (NIOC) has named the banks that are qualified for issuing guarantees for crude oil traded on the floor of the Iran Energy Exchange.

The company released an announcement on Saturday which said the banks of Pasargad, Tejarat, Tose-e Saderat Iran, Sepah, Saderat, Mellat, Melli and Parsian were qualified to issue guarantees for crude oil trades in the stock market.

NIOC has decided to sell a million barrels of crude oil on the export floor of the Iran Energy Exchange.