Selling oil to people with a certificate of deposit in the energy exchange? – Tejarat News

According to Tejarat News, according to the announcement of the CEO of the National Iranian Oil Company, oil is supposed to be offered in the energy exchange through a commodity deposit certificate.

Mohsen Khojstemehr, Deputy Minister and CEO of the National Iranian Oil Company, in response to the question of the host of the “Saf Aol” program of the Khabar network that; At what stage is the release of the oil commodity deposit certificate in the energy exchange? He said: The legal formalities for the release of the oil commodity deposit certificate have been completed, the approval of the Economic Council has been obtained, and all coordination with the stock exchange, central bank and other relevant authorities has been completed.

He added: Issuing these types of bonds in the oil export sector is a new work and a very valuable financial tool, and the holder of each of these deposit slips will be the owner of the oil.

Khojaste Mehr stated: People can also buy oil and there is a preparation that the oil of the buyers of these sheets will be stored in the respective warehouses and when it reaches a shipment, this shipment will be delivered.

He expressed hope: We are ready to sell 100,000 barrels of crude oil per day through the issuance of these bonds as soon as possible. This way of selling and financing can be in foreign currency or Riyal at the same time and can be exchanged in the secondary market.

In the end, the CEO of the National Iranian Oil Company noted: This is a liquidity management for the National Iranian Oil Company to develop the fields.