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Iran to Offer 2mln Barrels Crude on Energy Bourse

The National Iranian Oil Company (NIOC) announced on Sunday that it is due to offer 2 million barrels of crude oil in the international ring of the Iran Energy Exchange (IRENEX) on Tuesday, in a move to bypass Washington’s unilateral sanctions against Tehran.

The NIOC announced today that the oil to be offered on Tuesday is to be sold at a bid price of $59.28. The buyers will receive the oil in three months.

This is the 12th time Iran is selling oil through the stock market.

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

Secretary-General of the Organization of Petroleum Exporting Countries (OPEC) Mohammed Barkindo said in May 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: 4947
Date: 2019/06/30 - 19:25
News Source: Fars News Agency

Energy Bourse  Crude  Oil  NIOC  IRENEX 

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