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January 09 2022
The SEO announced the instructions for futures contracts transaction on the Iran Energy Exchange (IRENEX). This leads to an increase the level of predictability for hydrocarbon products, therefore, increased profitability and transparency among energy carriers companies. IRENEX regulatory infrastructure is now in place for these transactions, and the company is equipping its technical infrastructure to run the futures market. The most important advantages of launching the futures market in the energy exchange described as follows: - Suppliers, purchasers and investors may benefit from the price discovery in IRENEX, - Risk coverage from commodity price fluctuations, - Guarantee transactions by the clearinghouse and thus reduce of default risk, No doubt, launching the futures market in the Iran Energy Exchange sets a great opportunity for the Ministry of Petroleum, its subsidiaries, and refining and petrochemical industries to manage and cover the risk, and increase transparency and profitability.