MP Urges President to Back Offering Oil on Iran Energy Exchange

A member of the Majlis Economic Commission urged the President to support the offering of oil and petrochemical products on Iran Energy Exchange (IRENEX).

Mohammadreza Pourebrahimi vowed that the Majlis economic commission will go hand in hand with the government to resume such offerings on IRENEX.

Back in mid-August, IRENEX in an announcement stated that offering crude oil via standard parallel Salaf bonds on the market was postponed.

At the time, the National Iranian Oil Company (NIOC) had planned to offer IRR 20,000 billion (US$ 74.1 million) worth of heavy crude oil on IRENEX through standard parallel Salaf contracts (some kind of Islamic contract).. - Mehr