Exploring Hydrocarbon Depletion
NEW! Members Only Forums!
Access more articles, news & discussion by becoming a PeakOil.com Member.
The Tehran oil bourse is scheduled to open in 2005, according to its architect, Mohammad Javad Asemipour, who is a personal adviser to the Iranian energy minister.
The Iranian government has finally developed the ultimate “nuclear” weapon that can swiftly destroy the financial system underpinning the American Empire. That weapon is the Iranian Oil Bourse slated to open in March 2006. It will be based on a euro-oil-trading mechanism that naturally implies payment for oil in Euro.
Iran to launch oil and gas exchange on Feb. 27
19:01 | 13/ 02/ 2008
TEHRAN, February 13 (RIA Novosti) - Iran will launch a commodities exchange for oil, petrochemicals and natural gas on February 27, the Islamic Republic's oil minister said on Wednesday.
Gholam-Hossein Nozari told Iran's Press TV satellite channel the opening ceremony of the Oil Bourse would be attended by Minister of Economy and Financial Affairs Davoud Danesh Jaafari, who will head the bourse.
He said earlier the Oil Bourse will be located on the Persian Gulf island of Kish and that all financial settlements will be made in Iran's national currency, the rial.
The minister said his country's oil revenue will reach $63 billion by the end of this Iranian year, which ends on March 20.
He said oil sales reached $55 billion in the first 11 months of the year, and that "if crude prices stand at the current level, next year's oil revenues will be the same as this year."
Nozari announced last week that Iran's crude oil production had reached 4.184 million barrels per day, the highest level since the 1979 Islamic Revolution.
Micki wrote:Seems strange that they are trading only in Rial.
I thought the main advantage was that holders of Euro and Yen could do oil transactions withouth involving F/X transactions.
Is the strategy perhaps to go live on a small non-threatening manner and then expand later on???
Users browsing this forum: No registered users and 5 guests