The National Iranian Oil Company (NIOC) is planning to start selling gas condensate at the export floor of the Iran Energy Exchange (IRENEX) by February 13.

According to NIOC, Amir Hossein Tebyanian, NIOC representative at IRENEX, said NIOC would offer a million barrels of gas condensates at IRENEX as 35,000-barrels consignments.

He said the cargoes would be priced at the average of the last 10 prices of Dubai crude oil and this time the cargoes are priced at $61.04/b.

The official said the purchased cargoes would be delivered either in Assaluyeh, southern Iran, or shipped to Khark Oil Terminal. “There would be no constraints regarding delivery of the purchased items.”

He said the purchases could be fully settled in Rials with 6% deposits. Moreover, the period of settlements was set at 90 days.

An official notice regarding offering gas condensate by NIOC at the international floor of IRENEX would soon be published, he added.