NEWS
Exchange & Stocks   Petrochemical  

Iran to Offer Petrochemical Products, 10,000T Naphtha on Energy Bourse

Iran is due to offer 10,000 tons of light naphtha, 2,000 tons of heavy naphtha and large cargoes of petrochemical products to domestic buyers through its energy bourse on Sunday, in a direct sale to bypass the US unilateral sanctions.

Dissolving agents 402, 502 and 503, Iso recycle oil, dissolved blending naphtha 410, liquid gas and raw benzaldehyde will be on sale available for domestic buyers on the Internal Ring of Energy Stock Market (IRENEX).

Iran also offered 5,000 tons of light naphtha and other petrochemical products to domestic and international buyers through its energy bourse last week.

Dissolving agent 502, industrial butane gas, industrial propane gas, industrial liquefied natural gas (LNG), hexane, light naphtha, and liquefied natural gas (LNG) were on sale available for domestic buyers on the Internal Ring of Energy Stock Market (IRENEX).

International buyers were offered liquefied natural gas (LNG) from the Persian Gulf Star Refinery on the International Ring of the IRENEX.

Also, Iso Recycle oil and light naphtha from Bandar Abbas Refinery were presented on the Internal Ring of the IRENEX

Early in February, Iran held the 4th session of direct sales of oil to domestic and international buyers through its energy bourse.

Iranian Deputy Oil Minister Amir Hossein Zamaninia declared earlier this month that Tehran was fully prepared to sell oil in a “grey market”, vowing to circumvent the US unilateral sanctions against the energy-rich country.

“We sell oil at a recently discovered grey market using all of our capacities,” he said, “This is not smuggling. This is countering sanctions which we do not see as just or legitimate."

The United States told buyers of Iranian oil to stop purchases by May 1 or face sanctions, ending six months of waivers that had allowed Iran's biggest customers to import limited volumes.

Grey market is where the products and goods are bought and sold outside and not within in the original manufacturers authorized distribution channel.

Secretary-General of the Organization of Petroleum Exporting Countries (OPEC) Mohammed Barkindo said earlier this month that it was impossible to remove Iran’s oil from the international market, asserting that the organization would keep supporting Tehran against the US unilateral sanctions.

News No: 4599
Date: 2019/05/20 - 22:58
News Source: Fars News Agency

Petrochemical  Energy Bourse  US unilateral sanctions  OPEC  Petroleum 

Comments:

Leave a Comment:

   
   
   
 

Smart petchem industry required for stable presence in global markets

The managing director of Iran’s National Petrochemical Company (NPC) said that making the petrochemical industry smart is the only way for a stable presence in the global markets.
 

Iran’s Petchem Output Up by 6 Percent in 2 Months

A senior energy official said that Iran's petrochemical complexes achieved a six percent rise in production in the first two months of the current Iranian year (started on March 20, 2020) compared to the corresponding period in the last year.
 

Zanganeh offers condolences on passing of Iran’s OPEC governor

Iranian Oil Minister Bijan Namdar Zanganeh has offered condolences on the passing of the country’s Governor to the Organization of Petroleum Exporting Countries (OPEC) Hossein Kazempour Ardebili, Shana reported.
 

Iran’s man battles bombs and sanctions

He survived a bombing that left him badly wounded, and defended Iran’s oil interests through war and sanctions. Hossein Kazempour Ardebili, who died on Saturday, was one of the ultimate OPEC negotiators.
 

Funeral held for Iran’s OPEC governor

Iranian oil and foreign affairs ministers attended the funeral procession for Iran’s OPEC Governor Hossein Kazempour Ardebili which was held on Sunday in Tehran, Shana reported.
 

Iranian petrochemical production rises 6%

The output of Iranian petrochemical production units in the first 50 days of the current Iranian calendar year (started on March 19) increased by six percent compared to the previous year’s same period, Shana reported.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners