NIOC to Market 1mb of Oil at IRENEX on Jan. 21

A senior official with the National Iranian Oil Company (NIOC) said the company would supply a million barrels of crude oil on Iran Energy Exchange (IRENEX) on January 21. 

This will be the third time that the state-run company is offering oil to the private sector at the international ring of IRENEX.

Director of International Affairs at NIOC Saeid Khoshrou said the supplies would be sold as 35,000-barrel consignments for $52.42 per barrel.

He said the purchases could be settled in hard currencies or rials which makes this supply round different from the previous ones.

The official further stated that the permits for selling 3 million barrels of oil on IRENEX had been obtained by NIOC and the company would act accordingly for future sales.