News in Brief
Iraq to settle part of its debt to Iran with 100k bpd of oil: official
According to an agreement between Tehran and Baghdad, Iran will receive a total of 100,000 barrels of oil per day in exchange for part of its demand from Iraq from the beginning of August, announced the Secretary of Iranian Oil, Gas and Petrochemical Products Exporters’ Union (OPEX) Hamid Hosseini on Saturday.
Hosseini told ISNA that Iran will receive 30,000 barrels of extra heavy crude oil and about 70,000 barrels of mazut on a daily basis from its Arab neighboring country.
Iran can increase the volume of receiving crude oil or mazut in the next negotiations for clearing the debts, he noted. Iran’s total export of gas and electricity to Iraq is estimated at $10-15 million per day, Hosseini added.
Over 1m tons of iron ore traded in IME
The Iran Mercantile Exchange (IME) announced that 1.05 million tons of iron ore were traded in its metal and mineral trading hall in the week closing on July 28.
Ime.co.ir reported on Saturday that over 3.32 million tons of commodities, worth more than $712 million, were traded in its domestic trading and export halls.
A total of 2.83 million tons of various products, worth about $496 million, were traded at IME’s domestic and export metal and mineral trading hall.
Among the traded products were 364,242 tons of steel, 288,000 tons of sponge iron, 5,660 tons of aluminum ingots, 11,120 tons of copper, 1,295 tons of zinc, 250 tons of molybdenum concentrate, and 1.11 million tons of cement.
In addition, 442,679 tons of various commodities, valued at over $207 million, were traded at IME’s domestic and export oil and petrochemical trading halls.
Other traded items were 104,508 tons of polymeric products, 148,000 tons of vacuum bottom, 50,000 tons of lube cut, 40,740 tons of chemical products, 3,675 tons of sulfur, 5,222 tons of base oil, 2,668 tons of petroleum products, 200 tons of insulation and 88,689 tons of bitumen.