buying oil Archives - Iran News Daily https://irannewsdaily.com/tag/buying-oil/ Sun, 23 Dec 2018 13:31:23 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.4 https://irannewsdaily.com/wp-content/uploads/2020/04/cropped-iranlogo-32x32.png buying oil Archives - Iran News Daily https://irannewsdaily.com/tag/buying-oil/ 32 32 Foreigners asked to buy Iranian oil via stock market https://irannewsdaily.com/2018/12/foreigners-asked-to-buy-iranian-oil-via-stock-market/ https://irannewsdaily.com/2018/12/foreigners-asked-to-buy-iranian-oil-via-stock-market/#respond Sun, 23 Dec 2018 11:00:11 +0000 https://irannewsdaily.com/?p=45439 Managing director of Iran’s Energy Exchange said Sun. that a number of foreign companies have already obtained a special trading code to buy Iranian crude via the exchange market. Speaking to IRNA, Seyyed Ali Hosseini, the managing director of Iran’s Energy Exchange, said some countries have been contacting their embassies in Iran to obtain information about the purchase of oil […]

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Managing director of Iran’s Energy Exchange said Sun. that a number of foreign companies have already obtained a special trading code to buy Iranian crude via the exchange market.

Speaking to IRNA, Seyyed Ali Hosseini, the managing director of Iran’s Energy Exchange, said some countries have been contacting their embassies in Iran to obtain information about the purchase of oil supply futures via the stock market, and a number of foreign companies have already held direct talks on this matter and even received a special trading code for buying Iranian oil.

He said the date for the next supply of crude to the stock market has not been decided yet, adding that the Supreme Economic Coordination Council has agreed to continue the supply of crude via the stock market.

He added that the Ministry of Petroleum will be in charge of supplying the next batch of crude after the batch is ready for launch.

Hosseini noted the many applications for purchasing Iranian crude in recent weeks, saying there is no limit to oil supply by the National Iranian Oil Company.

He added that there are more than enough clients for Iran’s oil; however, the matter of concern is the instability of global oil markets and their downtrend.

Iran launched the sale of oil supply futures on the eve of the new US sanctions targeting the country’s oil and banking sectors, and managed to sell 280 thousand barrels of crude on the first day. In these transactions, the price per barrel was $74.85, 20% of which were paid with Iranian rials and the rest with foreign currencies.

In the second phase, the country sold 700 thousand barrels of crude, with price per barrel at $64.97.

So far, the system of sales in the stock market was based on 20% paid with Iranian rials, and 80% with foreign currencies. Recent requests and proposals indicate that the sales will be paid 100% with Iranian rails from now on.

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]]> https://irannewsdaily.com/2018/12/foreigners-asked-to-buy-iranian-oil-via-stock-market/feed/ 0 Turkish diplomat: It is ‘impossible’ to stop buying oil from Iran https://irannewsdaily.com/2018/08/turkish-diplomat-it-is-impossible-to-stop-buying-oil-from-iran/ https://irannewsdaily.com/2018/08/turkish-diplomat-it-is-impossible-to-stop-buying-oil-from-iran/#respond Sat, 18 Aug 2018 06:30:07 +0000 https://irannewsdaily.com/?p=35050 TEHRAN – Riza Hakan Tekin, Ankara’s ambassador to Tehran, has said that it is “impossible” for Turkey to stop purchasing Iran’s oil. Turkey imports half of its needed crude oil from Iran and “it is impossible to meet the U.S. demand on stopping purchasing Iran’s oil,” ISNA quoted him as saying in an interview with […]

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]]> TEHRAN – Riza Hakan Tekin, Ankara’s ambassador to Tehran, has said that it is “impossible” for Turkey to stop purchasing Iran’s oil.

Turkey imports half of its needed crude oil from Iran and “it is impossible to meet the U.S. demand on stopping purchasing Iran’s oil,” ISNA quoted him as saying in an interview with Anadolu Agency.

He noted that sanctions should “conform to international law” and be “based on international consensus”.

U.S. President Donald Trump announced Washington’s exit from the nuclear deal on May 8 and ordered restoration of sanctions against Iran. The first batch of sanctions was snapped back on August 6. The second batch, which will include banking and oil boycott, will be restored on November 4.

Turkish Foreign Minister Mevlut Cavusoglu issued a statement in June saying that Turkey does not have to act in compliance with “unilateral” U.S. decisions on Iran.

Cavusoglu said on Thursday that Turkey is determined to expand ties with Iran despite the U.S. threats to punish governments that violate economic sanctions against Tehran.

“Time and again we have made it clear that we will not implement U.S. sanctions against Iran,” Press TV quoted him as saying during a meeting with Iranian President Hassan Rouhani’s special envoy Mahmoud Vaezi in Ankara.

Turkish Energy Minister Fatih Donmez said on Wednesday that Ankara will continue to buy gas from Iran.

“We adopted the United Nations sanctions on Iran in the past. Even the European Union is extremely annoyed by today’s situation. We are conducting legitimate trade here, which is of great importance in terms of supply security,” he said.

Iran is one of the biggest suppliers of natural gas and oil to Turkey, according to Press TV.

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