Monday, January 24, 2011

Iran to Establish Oil Exchange

The long-awaited Iran oil stock exchange project got a boost today when President Ahmadinejad signed the order to have the exchange created in the Persian Gulf island of Kish. Mehr News Agency reports that the government expects the exchange to begin its work within three years. In February 2008, Iran opened a limited commodity exchange in Kish to trade in oil-derivative products. The new exchange is intended as a full service oil bourse for oil and gas as well as petrochemicals.

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