According to NIOC, pursuant to the national budget bill, the Iranian Ministry of Petroleum is obliged to sell at least 2 million barrels of light crude oil, 2 mb of heavy crude oil and 2 mb of gas condensate at the IRENEX.

This will be the 11th condensate offering by NIOC on the market since 2018.

The minimum amount for land transport is 110 tons or 1,000 barrels for the item for each transaction. 

The purchases may receive their cargoes three months after their purchase in areas approved of by NIOC.