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NIOC plans next round of IRENEX oil sale for early February

The National Iranian Oil Company (NIOC) has planned to offer a million barrels of crude oil on the Iran Energy Exchange (IRENEX) on February 4.

NIOC plans next round of IRENEX oil sale for early February
(Thursday, January 24, 2019) 11:40

This will be the 4th time crude oil is being sold on the Iranian market for the private sector to buy it from the state-run NIOC.

On October 28, the first round of selling a million barrels of crude oil on IRENEX began by NIOC and 280,000 barrels, divided in 35,000-barrel consignments, were sold at $74.85/b.

On November 20, the company offered 700,000 barrels on the market which were sold at $64.97/b.

The third round of the sales took place on January 21 but no cargoes were purchased at the end of the session.

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