Iran’s energy exchange reports record sale of LPG shipments
Iran Energy Exchange (IRENEX) reported a yearly record sale for three shipment of liquefied petroleum gas (LPG) amid reports suggesting Iran’s hard currency revenues from LPG exports have increased significantly in recent months.
The IRENEX said in a statement that the sale earlier in the day of three LPG shipments weighing 192,000 tons for $124.6 million was the highest reported in the market since the start of the calendar year in late March 2022, according to Press TV.
The statement said 12 international bidders had competed for the LPG shipments listed on IRENEX.
It said the largest shipment of the three that weighed 180,000 tons belonged to the National Iranian Gas Company.
The sale come amid reports suggesting Iran has earned more than $6.5 billion worth of revenues from LPG exports over the 11 months to late February.
Iran has increasingly relied on sales of petroleum products and petrochemicals in recent years to offset the impacts of American sanctions on its crude oil exports.