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Official: Foreign Firms Eyeing to Purchase Iran's Oil

Several foreign companies have shown interest in purchasing Iran's oil via the exchange market, Managing director of Iran's Energy Exchange Seyed Ali Hosseini said.

"A special trading code to buy Iranian crude via the exchange market has been given by us to a number of foreign companies," Hosseini added.

The managing director of Iran's Energy Exchange, however, revealed that the date for the next supply of crude to the stock market has not been decided as yet.

"The Supreme Economic Coordination Council has agreed to continue the supply of crude via the stock market," Hosseini said.

Iran launched the sale of oil supply futures on the eve of the new US sanctions targeting the country’s oil and banking sectors, and managed to sell 280,000 barrels of crude on the first day. In these transactions, the price per barrel was $74.85, 20 percent of which were paid in Iranian rial and the rest in foreign currencies.

In the second phase, the country sold 700,000 barrels of crude, with price per barrel at $64.97.

So far, the system of sales in the stock market was based on 20 percent paid in Iranian rial and 80 percent in foreign currencies. Recent requests and proposals indicate that the sales will be paid 100 percent in Iranian rail from now on.

News No: 3045
Date: 2018/12/23 - 18:11
News Source: FARS News Agency

Oil  Seyed Ali Hosseini  stock market  US sanctions  Energy Exchange 

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