Iran Oil Bourse Open for BusinessSubmitted by Meistersinger on Sun, 02/17/2008 - 16:57
Iran Opens Its 1st Oil Products Bourse
29 minutes ago
TEHRAN, Iran (AP) — Iran established its first oil products bourse Sunday in a free trade zone on the Persian Gulf Island of Kish, the country's oil ministry said.
A statement posted on the ministry's Web site said 100 tons of polyethylene consignment was traded at the market's opening on the island, which houses the offices of about 100 Iranian and foreign oil companies.
Oil and petrochemical products will be traded in Iranian Rials, as well as all other hard currencies, the statement quoted Iranian Oil Minister Gholam Hossein Nozari as saying. About 20 brokers are already active in the market, it said.