NIOC to offer 6mb of crude oil, gas condensate at IRENEX

SHANA  — The National Iranian Oil Company (NIOC) has planned to put for sale 6 million barrels of crude oil and gas condensate on the Iran Energy Exchange (IRENEX) next week.

On November 18, NIOC will offer 2 mb of gas condensate at the base price of $57.87/b.

On the following day, November 19, the company will sell 2 mb of light crude oil at the base price of $56.72/b and on Wednesday, November 20, it will put for sale 2 mb of heavy crude oil on the market.

Iran budget law for the current calendar year, which began on March 21, obliges the Iranian Ministry of Petroleum to sell at least 2 mb of light crude oil, 2 mb of heavy crude oil and 2 mb of gas condensate on the IRENEX.