The Iran Project

NIOC names banks qualified to issue guarantee


Iran has transferred over $1.15 billion (38.386 trillion rials) worth of state shares to the private sector since the beginning of current Iranian calendar year (March 21, 2014) until March 6, 2015.

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.

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