X

PEDC News

Home /News & Media/News
NIOC to Start Selling Oil on Stock Market by October 28

 NIOC to Start Selling Oil on Stock Market by October 28

Sunday، 21 October 2018 | Article Rating

TEHRAN (Shana) -- The CEO of the National Iranian Oil Company (NIOC) said his company would start selling oil on the domestic stock market by October 28.

 

Addressing the opening ceremony of the 4th Iranian Petroleum and Energy Club Congress & Exhibition in Tehran on Tuesday, Ali Kardor said necessary arrangements for the supply of crude oil in the stock exchange had been provided and the condition to participate in the transactions, was paying an equivalent of 10% of the price of oil in Rials by buyers.

The base price will be set at $79.15 for the oil but the final price would be determined based on the international trading prices of the National Iranian Oil Company, the official said.

He said talks for striking deals under the newly-devised model of oil contracts were ongoing, adding, “We are in talking for three fields; moreover, with Total’s exit from the South Pars Phase 11 project, the engineering data, maps, etc. regarding the projects have been made available to the CNPCI.”

Kardor further said that the National Iranian South Oil Company (NISOC) had signed a memorandum of understanding with Pergas Consortium for developing Keranj Oilfield in Iran which would soon turn into a contract.

Pasargad Energy Development Co. (PEDC) is an independent energy company based in Iran. PEDC is an integrated energy company whose activities span the entire value chain including exploration, production, refining, petrochemicals marketing, power generation & renewables as well as new high-tech venture capitalizing. Our headquarter is located in Tehran. PEDC is present across the Iranian continental shelf and international market through its subsidiaries. We create value for our shareholders through active investment, high-level monitoring of our projects, building world-class partnership and managing our risks effectively and making balanced portfolio. Meantime, we contribute to the sustainable development of the energy sector and communities in our country. PEDC’s competitiveness relies upon our values-based performance culture, with a strong commitment to transparency, cooperation and continuous operational improvement. As a wholly owned subsidiary of the Pasargad Financial Group, with Pasargad Bank being a distinctive shareholder, we owe our success to our experience, management knowledge and strong local/international partnerships since 2008. PEDC is committed to maintaining sustainability and being recognized as the strategic partner of choice in Iran’s energy and petrochemical sector.​

Photos
  • NIOC to Start Selling Oil on Stock Market by October 28
Rating
Sharing
طراحی سایت ایزی وب