Iran sells 3,000 tons of gasoline on Energy Exchange

For the first time in the history of Iran’s oil industry since 1901, 3,000 tons of Euro-5 gasoline was sold via the international ring of Iran Energy Exchange, also known as IRENEX.

4 August 2019
ID : 22146
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For the first time in the history of Iran’s oil industry since 1901, 3,000 tons of Euro-5 gasoline was sold via the international ring of Iran Energy Exchange, also known as IRENEX. 

The sale was part of a total of 10,000 tons of gasoline offered on the energy bourse by the state-owned National Iranian Oil Refining and Distribution Company (NIORDC) on Wednesday, IRENEX official website reported, according to Financial Tribune. 

Buyers were required to purchase a minimum of 100 tons at a base price of $581 per ton. The cargos were delivered from the Persian Gulf Star Refinery near Bandar Abbas in south Iran.

NIORDC has plans to offer another 10,000 tons of gasoline 91 octane at a base price of $581/ton on August 11.

Ali Hosseini, the IRENEX boss, announced earlier in the week that the fuel will be offered to Afghan buyers in the initial phase, adding that the initiative could later be extended to other neighbors.

Hosseini said gasoline will be offered on a weekly basis and if the initiative is successful the offer will increase.

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