Iranian Oil Bourse finally opened in the early hours of October 26th, 2009. The last time it was in the news (initial inaguration in 2008), we had Iranian speed boats threatening our battleships. That and deep sea cable cuts http://pkpolitics.com/2008/02/04/forth-cable-cut-iranian-oil-bourse-sabotaged/
More background from a 2006 article on Global Research site:
http://www.globalresearch.ca/index.php?context=va&aid=2076
"Petrodollar Warfare: Dollars, Euros and the Upcoming Iranian Oil Bourse" by William Clark
http://www.energybulletin.net/node/7707
and lastly and exerpt, "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."
http://www.energybulletin.net/node/12125
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[link to www.zawya.com]
27 October 2009
TEHRAN - The Iranian Oil Bourse was inaugurated on Monday in the Persian Gulf island of Kish as a venue to export oil and petrochemical products.
National Petrochemical Company's Managing Director Adel Nejad-Salim said in the opening ceremony that all petrochemical products will be gradually offered on the market, IRNA news agency reported.
The oil bourse is intended as an exchange market for petroleum, gas, and petrochemicals in various currencies, primarily the euro and Iranian rial, and a basket of other major currencies.
On February 4, 2008 the Iranian Cabinet approved the creation of the oil bourse in two stages - first for crude and second for oil byproducts transactions.
Iran, having the world's second largest gas reserves and third largest oil reserves, is trying to play a more active role in oil and petrochemical transactions in international markets.
© Tehran Times 2009
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