Oct 1, 2018, 2:12 PM
News Code: 83050600
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Iran to start offering oil via stock exchange next week

Tehran, Oct 1, IRNA – Iran is to offer its oil through national stock exchange, and the plan may be implemented next week, deputy petroleum minister said here on Monday.

Iranian oil with 5,000-barrel share packages will be presented at the national stock exchange, Ali Kardor told the Islamic Republic News Agency (IRNA).

Total amount of oil to be offered to the stock exchange will be one million barrels, Kardor, who is also Managing Director of National Iranian Oil Company (NIOC), said.

“We’re now providing a formula for offering oil to the energy stock exchange,” the oil official added.

The offered oil will be completely allocated to exports, he said.

On July 1, Iranian First Vice-President Eshaq Jahangiri announced that the government is to offer the country's oil through national stock exchange as the US has targeted Iranian oil sector in order to restrict the country's exports.

The private sector can transparently buy oil from the stock exchange and then export it, Jahangiri added to his remarks.

As Kardor said, the country has planned to defeat the US plans as it has endeavored to put obstacle on Iran oil exports.

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