Iran is to sell on Tuesday the eighth consignment of its light crude on the country’s energy exchange in a bid to continue oil sales to anonymous clients not to be recognised by the US.
National Iranian Oil Company (NIOC) will offer one million barrels of light crude at a price of $63.36, lower than the OPEC oil that has reached highs of $70. It will be the fist crude sales on the energy market in the new Persian Year 1398 that started on 21 March.
The oil will be put on sale at Iran Energy Exchange called IRENEX. NIOC issued a statement in English for the first time in February before the fourth round of sales aimed at wooing more potential clients.
The barrels will be delivered 25 April at Kharg Island in the Persian Gulf, according to Iran Energy News.
Oil sales through the exchange market start late last October with one million barrels on each offer.
Tehran sold 280,000 barrels of crude oil out of 1 million barrels on offer through the country's domestic bourse 28 October for the price of $74.85 per barrel. The second round sold 700,000 barrels at $64.97 on November 11.
Iran exported last month 1.8 million barrels a day, according to a Bloomberg report. The figure is the highest since the US secondary sanctions were put into place early last November.