40 million tons of products traded on the energy exchange

According to Tejarat News, Ali Naghavi, CEO of Iran Energy Exchange, announced today at the unveiling ceremony of the futures market for naphtha and methanol futures: 40 million tons of petroleum and energy products have been traded in the past 9 years, of which 27 million. Million tons of goods exported through the commodity exchange.

He added: “This year, 5,118,000 tons of export goods and 2,260,000 tons of other energy goods have been traded on the energy exchange.” From the competition in this market, 846 billion tomans of surplus value has been created for these products.

Naghavi said: “With the increase in per capita domestic energy consumption, the need to store energy carriers and with optimal consumption management, we will see the supply of energy products in the energy exchange.”

The CEO of Iran Energy Exchange stated that the futures contracts for crude oil and gasoline were approved by the Board of Directors of the Energy Exchange in June last year.

He added: “From today, naphtha and methanol futures contracts in the energy exchange will begin.”

Naqvi also said about the supply of crude oil in the energy exchange: “We are ready to provide crude oil through the energy exchange, but the oil company has not cooperated yet and whenever it wants to offer crude oil in the energy exchange, this infrastructure has been provided.”

He also clarified about the authority of the Energy Exchange for the pricing of energy products: “We in NAFTA are considered as a pricing authority and we hope that with the supply of more other Iranian energy carriers, it will be recognized as a pricing authority in the region.”

According to Naqavi, in the last two years, gas tests were offered on the energy exchange for land volumes, and next year, marine volumes will be offered on the energy exchange.