There are 2 ways to purchase crude oil from Iran:
1) Exchange Organization:
The conditions of purchasing crude oil from Exchange Organization are as below items:
-Internal and external legal companies can be placed on the demand side of the market as a buyer.
-The person who wants to participate in this transaction should have 10% of the value of transaction in the form of the Rial before the transaction in the account of Central Deposit and Settlement Company Funds (SAMAT) to be participated in the transaction.
Totally 20% should pay in Rial(based on SANA rate) in cash before delivery and 80% should pay in USD,… with provision of a Bank Guarantee from the banks which are accepted by National Iranian Oil Company after delivery of the shipment.
-The supply of oil will take place at the exchange’s virtual station.
-Every buyer can buy 35000 Barrels or submultiple of that to a maximum of 1 million barrels.
The first day of oil supply through stock exchange was 2018/Oct/ 28 and after the buyers competition 8 consignments of 35.000 barrels were sold at 74.85 USD per barrel. This price is almost 5 usd lower than announced price by Oil Company.
2) Directly purchase:
Another way is to buy directly from oil company, for this type of purchase we need a LOI from your company and BCL from your bank.
Term of payment, incoterms, term of delivery ,... are necessary points which should be determined.