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OIL PRODUCTS PUT UP FOR SALES FOR THE FIRST TIME IN ARMENIA
YEREVAN, JUNE 3. ARMINFO. The first in Armenia auction of oil products
was held at the Adamand commodity exchange today. The client was the
biggest Armenian oil trader Flash company.
120,000 liters of Regular-91 petrol and 170,000 liters of Diesel fuel
have been sold. The demand was higher than the supply. As a result
only 44,000 liters of petrol and 60,000 liters of Diesel fuel was
sold at higher than the initial price. 6 entities took part in the
sale with 2 of them brokers. They say that the price was lower than
on the market by 10 AMD per liter.
Attending the auction was Deputy Director of Flash Musheg Elchyan
who bought 2 lots of 10 tons each and 1 lot of 20 tons.
The auction has proved successful. Elchyan says that the prices on
the commodity exchange were lower than those on Flash's oil bases and
he hopes to sell the purchases lots at profit in the coming weeks.
Elchyan says that given growing world prices today it is more
profitable to invest money in oil than in gold. He says that Flash's
oil reserves total 8 mln liters with the republican ones being 10
mln liters.
President of Adamand Grigor Vardikyan says that the sale of oil
products on the commodity exchange will raise the transparency of
pricing and cut the market prices.
YEREVAN, JUNE 3. ARMINFO. The first in Armenia auction of oil products
was held at the Adamand commodity exchange today. The client was the
biggest Armenian oil trader Flash company.
120,000 liters of Regular-91 petrol and 170,000 liters of Diesel fuel
have been sold. The demand was higher than the supply. As a result
only 44,000 liters of petrol and 60,000 liters of Diesel fuel was
sold at higher than the initial price. 6 entities took part in the
sale with 2 of them brokers. They say that the price was lower than
on the market by 10 AMD per liter.
Attending the auction was Deputy Director of Flash Musheg Elchyan
who bought 2 lots of 10 tons each and 1 lot of 20 tons.
The auction has proved successful. Elchyan says that the prices on
the commodity exchange were lower than those on Flash's oil bases and
he hopes to sell the purchases lots at profit in the coming weeks.
Elchyan says that given growing world prices today it is more
profitable to invest money in oil than in gold. He says that Flash's
oil reserves total 8 mln liters with the republican ones being 10
mln liters.
President of Adamand Grigor Vardikyan says that the sale of oil
products on the commodity exchange will raise the transparency of
pricing and cut the market prices.