The base price for the offer is $58.81 per barrel.
This is the fifth heavy crude oil offering of NIOC at Iran Energy Exchange. In the first offering of this year on Tuesday April 3,070,000 barrels of heavy crude were traded.
Buyers can receive their cargo(es) up to three months after the transaction, and the delivery of the cargo(es) in other areas is subject to approval by the National Iranian Oil Company (NIOC).
According to this report, supply of crude oil at Iran Energy Exchange (IRENEX) has been put atop agenda in line with realizing policies of resistance economy based on diversifying oil sales methods and using capacities and capabilities of private sector in order to export crude oil.