News

Iran Energy Exchange (IRENEX)

Analysis of Iran Energy Exchange (IRENEX) in the international ring leading up to (Dec 26 to Jan 01)

Analysis of Iran Energy Exchange (IRENEX) in the international ring leading up to (Dec 26 to Jan 01)
Last week, Iranol Oil Company offered the DAE40 heavy extract product again in Rials at the international ring of the Iran Energy Exchange (IRENEX) and this means that the buyers must be Iranian companies and all foreign exchange and customs obligations of the goods must be considered by them and it is obvious that buyers are less interested in buying a product with this style.

Last week, Iranol Oil Company offered the DAE40 heavy extract product again in Rials at the international ring of the Iran Energy Exchange (IRENEX) and this means that the buyers must be Iranian companies and all foreign exchange and customs obligations of the goods must be considered by them and it is obvious that buyers are less interested in buying a product with this style.

During the last week, the solvent product of Isfahan Oil Refinery 402 was offered twice in the Iranian Energy Exchange market, Unfortunately, due to the discrepancy between the price of the product and the target markets, Isfahan Oil Refinery was failed to sell this product meanwhile, (5,000) tons of solvent 402 Kermanshah oil refinery with a delivery date (February 10, 2021) was sold at a price of (390) dollars.

Last week's analysis showed that sanctions conditions and shipping problems have eroded buyers' willingness to participate in such offers and unfortunately none of the offshore supplies (Lavan Complete Naphtha and Nouri Petrochemical Refinery) were traded and given the lack of improvement, hopes for a deal like this are becoming less and less every day.

Buyers of LPG (50-50) supplied by NIGC last week did not expect ($ 100) increase in the price of butane and ($ 70) in the price of propane, which led to $ 85 increase in the price of LPG because according to the rules of the transaction, the final settlement of buyers is based on the CP price on January. It is rumored that due to this price increase, the buying process is expected to continue only if NIGC considers a discount of more than (100) dollars for buyers. The export of this product is more to Afghanistan and Pakistan and these markets are not saturated with the purchase of this product.

Considering the high level of demand for LPG, the transaction of Rafint 2 product of Shimi Baft Company, which is in fact very similar to butane gas, was not unexpected and there is a possibility of buying this product in future supply. Transactions of 95 and 91 octane gasoline as well as gas oil from Tabriz oil depot related to Armenia show that the prices offered in the market are so good that buyers are willing to continue to buy these products during the New Year holidays.

As a result, we anticipate that the purchase of these products will continue if the supply of products to the Armenian market continues.

As mentioned in last week's analysis, the shortage of fuel products in Afghanistan has led to a competition of about $ 15 compared to the base price for Mashhad oil storage and heavy hydrocarbons of Bu Ali Sina Petrochemical. The supply of these products is difficult in Afghanistan, we anticipate that the demand and price of these products will also increase this week.

Customs problems and price mismatches in the Iraq market are still unresolved, the supply related to this country is not leading into a deal.
At the end, we wish all the buyers and sellers of the Iranian energy exchange market a week full of deals and profits.

 

By: Shima Dehghani Azar

Jan 2, 2021 16:43
Number of visit : 183

Comments

Sender name is required
Email is required
Characters left: 500
Comment is required

Be with us in social media: