The Iran Project

Oil, condensate offer on IRENEX before yearend

oil

File photo shows Iran's oil installations at the southern island of Kharg.

Financial Tribune – The National Iranian Oil Company will launch two new offers of crude oil and natural gas condensate on the Iran Energy Exchange before the calendar year is out on March 20.

Amirhossein Tebianian, the NIOC representative in charge of offering petroleum products on IRENEX, said new facilities will be provided to buyers in the new offers. In the previous offers, buyers had to introduce a shipping line 20 days prior to shipment, while in the new program the period is cut to 10 days, he told IRNA.

As for prices, Tebianian said prices set by NIOC are lower generally to “attract” buyers.

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