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Oil And Petrochemicals Exchange Established

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February, 17, 2008 A.D.:
Oil And Petrochemicals Exchange Established


(Wikipedia) - The Iranian Government established the Oil And Petrochemicals Exchange under directives from the IME Company. The first phase was launched on February 17, 2008.
Iran Mercantile Exchange (IME) is a commodities exchange located in Tehran, founded in 2006. IME trades in agricultural, industrial and petrochemical products on the spot and futures markets. It is mainly a domestic or regional market aiming to become international in the future.
Tehran Metal Exchange was established in September 2003 as the first mercantile exchange in the country. Later on, Iran Agricultural Exchange was established in September 2004. Subsequently, Tehran Metal Exchange merged with Iran Agricultural Exchange in December 2006 and formed the Iran Mercantile Exchange Company.
Kish Island on the Persian Gulf is the venue for trading the oil contracts. It is a free trade zone. Iran also wants to encourage local investors to participate in the oil market as it tries to reduce the state’s role in the country’s energy industry based on a general privatization policy.
The Securities and Exchange Organization (SEO) is the sole regulatory entity for the regulation and development of the capital market in Iran.
More than 60 years after Nationalization of Oil Industry, same hostile countries that orchestrated the 1953 coup are pressuring Iran with sanctions and military threats in vein. Although most neighboring nations have somehow submitted to those warmongering powers, Iranians have chosen a path that has been inspiring Resistence around the globe.



KEY TERMS:IME , Indus , Iran , Iran Agricultural Exchange , Iranian , Kish , Kish Island , Nationalization of Oil , Oil And Petrochemicals Exchange , Persia , Persian , Persian Gulf , Securities and Exchange Organization , Tehran , Tehran Metal Exchange , Wikipedia


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