IRENEX trade reaches $74m in 1 month

Financial Tribune – More than 183,000 tons of hydrocarbon products valued at 10 trillion rials ($74.34 million) were traded in the Iran Energy Exchange spot market in the last Persian month to June 20.

According to the CEO of IRENEX, Ali Hosseini, more than 119,000 tons of the products were traded in the domestic ring of IRENEX totaling 5.9 trillion rials ($44.01 million).

This is while 63,000 tons of such products worth 3.5 trillion rials ($26.54 million) were traded in the international IRENEX during the month.

According to the Securities and Exchange News Agency, five major companies in the spot market, namely Lavan Oil Refining Company, Persian Gulf Star Oil Company, Tabriz Oil Refining Company, Isfahan Oil Refinery, and Tehran Oil Refining Company together accounted for 16%, 12%,10%,9%, and 6% of the total trade.

Solvent 402, heavy naphtha, methanol, liquefied petroleum gas and ISO recycle were among the main commodities on offer for the month, accounting for 68% and 67% shares of the volume and the value of trade during the reviewed period.