Petroleum Exchange of India Private Limited (PetEx) is the harbinger of a revolution originating within the Petroleum Sector in India.
- PetEx is an online platform created in association with NCDEX e-Market Limited (NeML) (a 100% subsidiary of NCDEX). It is an e-market platform exclusively for petroleum products. PetEx will facilitate trade in the Physical (spot) market.
- PetEx will serve as a market place where Oil Refineries, Industries, Importers, Exporters, Traders, Distributors and Re-sellers can sell and buy at the most competitive market determined prices.
- PetEx is built on the principle of Forward and Reverse Auction at a specified time from Monday to Friday.
- The growth and opening of the petroleum sector in India have brought the opportunity and need to provide different value-added services to the customers in this industry. To cover-up this need PetEx will provide information, data and Value-added Services.
- PetEx is the first delivery-based spot market (e-Market platform) for trading of Petroleum Products in India.