VOL. XLIII
No. 18
1-May-2000
IRAN
NIOCs Trading Subsidiary Conducting Hedging Through London Petroleum Exchange
The Naftiran Intertrade Company (NICO), a trading subsidiary of the National Iranian Oil Company (NIOC), is using Londons International Petroleum Exchange (IPE) to hedge crude oil and products prices. While NIOC is prevented by statute from buying crude oil and thus cannot hedge crude oil sales, MEES understands that the Jersey-registered NICO has begun protecting itself from crude...
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