By Trend
The first gas condensate offering at Iran Energy Exchange
(IRENEX) on Wednesday has failed to attract customers.
"The gas condensate cargo had one customer but due to lack of
information, the trading did not go as expected," said National
Iranian Oil Company (NIOC) representative Amir Hossein Tebyanian,
Trend reports citing Fars News Agency.
The NIOC offered 1 million barrels of gas condensate from South
Pars to the Energy Exchange.
"Previously, during oil offerings, the name and code of buyers
remained hidden from the exchange trading panel. That was a good
advantage for energy exchange customers, but on Wednesday offering
lacked that capacity, and despite the efforts, the trading was not
successful.” said Tebyanian.
The official indicated the NIOC's long-term plans to offer gas
condensate cargos at the energy exchange, like oil.
"Considering the plans, there will be a fixed trend of oil and
gas condensate offerings every Monday, where each being traded in
one week at a time," he said.
"Some of the buyers, specially foreign customers, submitted
requests for letter of credit to join the offering sessions and
there have been efforts to facilitate the transactions," he
added.
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