NIOC to Offer Condensate on IRENEX

Date: 30 January 2019 - 20:58

News ID: ۶۲۶۷۸

TEHRAN (Shana) -- The National Iranian Oil Company (NIOC) is planning to start selling gas condensate at the export floor of the Iran Energy Exchange (IRENEX).
According to NIOC, Amir Hossein Tebyanian, NIOC representative at IRENEX, said in order to implement Section 13 of the General Policy of Resilient Economy on diversification of sales methods and private sector participation in the sales, and implementation of Article 4 of the Sixth National Development Plan, NIOC had put gas condensate offering on IRENEX on its agenda.
He said NIOC was planning to offer a wide variety of data-x-items on the market by supplying gas condensate in the export floor of the IRENEX. The detailed announcement of the offering would be released soon, he added.
According to Tebyanian, details about the initiative will be announced in the coming days, the first offering is expected to take place in the coming weeks.
The National Iranian Oil Company (NIOC) has planned to offer a million barrels of crude oil on the Iran Energy Exchange (IRENEX) on February 4.
This will be the 4th time crude oil is being sold on the Iranian market for the private sector to buy it from the state-run NIOC.
On October 28, the first round of selling a million barrels of crude oil on IRENEX began by NIOC and 280,000 barrels, divided in 35,000-barrel consignments, were sold at $74.85/b.
On November 20, the company offered 700,000 barrels on the market which were sold at $64.97/b.
The third round of the sales took place on January 21 but no cargoes were purchased at the end of the session.