The possibility of expanding Iran’s export market with oil commodity deposit certificates

In an interview with Fars news agency’s economic reporter, Hamed Sahibhanar said: The presence of the private sector in the field of buying and selling oil has always been a dream for the country’s oil and gas activists.

He clarified: The supply of goods deposit certificate can be an opening in the field of selling oil in our country. This plan leads to the presence of private sector activists, including owners of small refineries, investment funds and financial institutions in the field of buying and selling oil, even those who have the possibility of harvesting oil and exporting it and can finance oil trading can also participate in activate this area, in the sense that in the form of a series of off-exchange contracts, they can provide the necessary financial resources to oil traders who own logistics resources and help export oil, and the commodity deposit certificate can be a good tool in This is the context.

This economic expert stated: Diversification of oil sales methods has always been an important issue for policymakers, and the commodity deposit certificate is an effective measure in this regard. be; Since there is no guaranteed profit or price floor, this certificate does not have much of a financing aspect, therefore, this certificate does not have a financing aspect for the government like bonds or other instruments.

Sahi Hanar continued: Of course, one of the secondary functions of this instrument may be financing for the government, but it is not its main function. Through this scheme, the government may sell more oil and earn higher income, but the main goal is not to provide financing for the government. The most important goals of the plan are to expand export markets and enter the pricing field.

He added: If we can create a transparent oil exchange with high trading volume and liquidity, and over time, the price reference and the basis for pricing our exported oil will be from this place, then we have taken a positive and forward step.

This economic expert stated: Perhaps the term popularization of the economy through commodity deposit certificates will create a misunderstanding for the audience that due to the lack of government budget and the challenge of selling oil, we want to sell oil to our own people instead of foreign countries, but the evidence shows This misconception is wrong because, firstly, natural persons cannot buy certificates of deposit and only legal entities and investment portfolios can buy them. On the other hand, the minimum certificate of deposit that can be purchased is 1,000 sheets or barrels of oil, therefore, the small sector cannot enter this area, and the idea that the government intends to reach into people’s pockets with the aim of providing the funds it needs is ruled out. Is.

So the report A certificate of deposit is one of the types of securities that can be accepted and traded in the stock exchange. These certificates originate from a specific product that has been accepted in the stock exchange; The applicant company first identifies a warehouse with the stock exchange organization and accepts it, after the warehouse is accepted, a warehouse receipt is issued for the goods in the warehouse, which is issued by the central depository company according to the declared unit. , will be converted into certified papers and will be pledged electronically in the publisher’s account and will become tradable, after that, the warehouse opening notice must be published on the official website of the stock exchange, in which the specifications of the accepted warehouse goods, the method of trading, and the method of delivering the goods The method of settling the account is stated; This is called oil commodity deposit certificate.

In this plan, instead of looking for investors by using international and domestic marketers, we define a tool like a commodity deposit certificate, and the investor acts as an oil marketer for the country at his own risk. If we want to have a bigger market, we must To internationalize our tool, we must define this tool with international standards. Certificate of Deposit is our first currency instrument and an international standard instrument that can be shared.

end of message/