Iran Offers Oil To Private Sector To Counter US Sanctions


Iran Offers Oil To Private Sector To Counter US Sanctions

Iran will offer crude oil to the private sector for export ahead of the US sanctions on its energy sector set to take effect on November 4, Financial Tribune daily reported Saturday.

Ali Hosseini, managing director of Iran Energy Exchange, told Financial Tribune that the decision by the National Iranian Oil Company (NIOC) to supply oil in the stock market is a turning point in Iran’s key oil industry and its capital market, Xinhua reported.

Iran will start on Sunday to offer 1 million barrels of light crude oil on a daily basis, while the minimum volume of purchase will be 35,000 barrels, the report said. Read more

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