Oil Minister: License to sell 3m barrels of oil received in stock exchange

Tehran, Dec 26, IRNA - Iran's Oil Minister stressed that the needed authorization from three branches of government has been taken up to three million barrels of oil sold in the stock market 100% in Rials. Arguing that the third phase of oil supply on the stock exchange may take place next week, Bijan Zanganeh pointed to a two-stage sale of oil on the stock exchange, and said that the two sales phases' report was submitted to the Supreme Economic Council of the three branches of government and a new license from the three powers was received for the new stage of oil sales on the stock exchange. The Minister of Oil stated that a notice on the third stage of oil sales will be issued soon, adding that in this regard, needed authorization from the three branches of government was received for selling three million barrels of oil in the stock exchange and were sold 100% in rials with the decided exchange rate system. Referring to the situation of the selling oil bought in the stock exchange, Zangeneh stated, 'Oil buyers in the stock have been able to export black gold and there was no problem.'