NEWS
Oil   Energy Exchange  

NIOPDC to offer 20,000 tons of kerosene at IRENEX on Monday

National Iranian Oil Products Distribution Company (NIOPDC) is going to offer 20,000 tons of kerosene at the international ring of Iran Energy Exchange (IRENEX) on Monday, ISNA reported.

As reported, the offering will be in the form of two separate 10,000-ton cargoes at the base prices of $505 and $510 per ton, respectively.

The first cargo is going to be offered at 12 a.m. local time, while the second cargo will be offered at 1 p.m.

As decided at IRENEX, the applicants have to initially pay 10 percent of the value of the contract in rials or other foreign currencies and in case their bidding is accepted they must pay the rest to receive the purchased cargo.

The buyer company will also be required to pay for loading and unloading costs at the source of delivery.

Since the U.S. withdrew from Iran’s nuclear pact in May 2018, vowing to drive Iran's oil exports down to zero, the Islamic Republic has been taking various measures to counter U.S. actions and to lessen it's economy’s reliance on oil.

In this regard, Iranian think-tanks and energy experts have been repeatedly stating that the country should increase its refining capacity in order to make up for the reductions in crude oil sales by exporting oil products.

Therefore, in the past few months, the National Iranian Oil Company (NIOC) and its subsidiaries have been constantly offering various oil products at IRENEX.

NIOC sold 450,000 tons of oil products worth $160.656 million at IRENEX international ring during the week ended on September 20.

News No: 7270
Date: 2019/11/02 - 21:05
News Source: Tehran Times

National Iranian Oil Company  Iran Energy Exchange  kerosene  NIOPDC  IRENEX 

Comments:

Leave a Comment:

   
   
   
 

Exports of oil products to Iraq continues despite unrest: OPEX

Spokesman of Iranian Oil, Gas and Petrochemical Products Exporters' Union (OPEX) said the country continues exporting oil products to Iraq despite the unrest in the Arab country, IRNA reported.
 

Offering oil at IRENEX continues: NIOC

National Iranian Oil Company (NIOC)’s representative in Iran Energy Exchange (IRENEX) said that the company will continue offering oil at IRENEX after a few week of hiatus due to technical problems.
 

Gas field discovered with $40b worth of reserves

A new gas field with 13,000 billion cubic feet of recoverable reserve and 385 million barrels of condensate, valued at $40 billion, has been discovered in Fars province, southern Iran.
 

IRENEX to hold 16th round of offering light crude oil on Tuesday

National Iranian Oil Company (NIOC) will offer two million barrels of light crude oil at the international ring of Iran Energy Exchange (IRENEX) on Tuesday, Shana reported.
 

Electricity offerings at IRENEX doubled in a month

The capacity of electricity offerings at Iran’s Energy Exchange (IRENEX) has doubled in the Iranian calendar month of Shahrivar (August 23-Septemebr 22) compared to its previous month, IRIB reported on Wednesday, quoting an official with Iran’s Power Generation and Distribution Company (known as TAVANIR).
 

Intl. Iran Downstream Show slated for Feb. 2020

The first international exhibition of Iranian oil, gas and petrochemical industries downstream sector (Intl. Iran Downstream Show) is going to be held during February 2-4, 2020 at Tehran Permanent International Fairgrounds, Shana reported.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners