Tuesday, July 23, 2019   17:27:34
The Statement of the 4th round of crude oil supply on Energy Exchange

TEHRAN (NIOC) _ The 4th National Iranian Oil Company's Crude Oil Supply was released on Monday, Feb. 4th, to the private sector at the international ring of IRENEX.

National Iranian Oil Company's Crude Oil Supply statement was released on the International Ring of Energy Stock Market. Click here to get a Feb. 4th delivery announcement form.

The third installment was a major change over the previous two rounds as firstly, the prepayment dropped from 10% to 6%. Other changes in the third round of the supply of crude oil on the stock exchange include the possibility of settling 100% in Rials. It means that, in addition to the mechanism for settlement (20% in Rials and 80% in the currency), due to currency constraints, the full settlement in Rials has also been created.

In the predicted payment mechanism, there is a possibility of cash and credit settlement, as well as buyers who are willing to pay a loan, the payback period increased from 60 days to 90 days in previous installments.

In the fourth round of the supply, as before, the volume of purchase is at least 35,000 barrels and the base price is set at 56 dollars and 24 cents per barrel.

According to the report, the supply of crude oil on the energy exchange of Iran in pursuit of the policies of the resistance economy based on the diversification of the methods of selling oil and the use of the capacities of the non-state sector for the export of crude oil was on the agenda and before about one million barrels of oil has been supplied through stock exchanges.


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