The least possible amount for loading cargo for land transportation is 110 tons. Accordingly, purchasers can receive their cargoes for at most three months after the purchasing date.
The delivery of cargoes in other areas strictly depends on the previous approval of the National Iranian Oil Company (NIOC).
One of the main strategies that Iran chose to execute to help its oil exports afloat has been trying new ways to diversify the mechanism of oil sales, one of which is offering crude and light oil besides gas condensate at the country’s stock market.
According to this report, supply of crude oil and gas condensates in Iran Energy Exchange (IRENEX) has been put atop agenda in line with realization of policies of resistance economy based on diversifying in the sale methods and use of high capacities and capabilities of the private sector for spurring exports and export activities.
Last month, the NIOC sold 2 million barrels of heavy crude oil on the IRENEX on August 13 at $57.98 per barrel.
According to the NIOC, it was the 7th crude oil offering by NIOC at IRENEX.
On April 30, the company sold 70,000 barrels at IRENEX.
Buyers can receive their cargo(es) up to three months after the transaction, and the delivery of the cargo(es) in other areas is subject to approval by the National Iranian Oil Company.
On May 21, NIOC offered 2 million barrels of crude oil on IRENEX as well.