Caspian Energy Journal Caspian European Club
Tuesday, 13 November 2018 11:00

Iran sells 700,000 barrels through Energy Bourse

Iran sells 700,000 barrels through Energy Bourse

Iran has gone ahead with a second public sale of its light crude oil to international clients through its Energy Bourse in a policy meant to dodge US sanctions and sell the strategic fuel to direct buyers, Caspian Energy News ( reports with reference to the press statement of the National Iranian Oil Company (NIOC).

The National Iranian Oil Company (NIOC) had put 700,000 barrels of light oil up for grabs at a proposed price of $65.22 per barrel and the price at which the oil was sold was specified at $64.97 per barrel.

According to NIOC’s arrangements, buyers would have to pay 20 percent of the total value of their purchases in Iran’s national currency – the Rial. The remaining payments would need to be made in foreign currencies after loading.

More details:

Person in charge of the newsline: Olga Nagiyeva 

Read 661 times