Baku, Azerbaijan, Oct. 29
By Elnur Baghishov – Trend:
Iran, selling its oil at the stock exchange is a remarkable event, Seyed Hamed Mir Moeini, an expert in energy exchange affairs said in an interview with Iran's Young Journalists Club (YJC) website.
He noted that if the sale is carried out on the basis of the existing standard principles and criteria, then great opportunities will be created for the market players interested in engagement in oil trade.
Mir Moeini added that creation of competitive environment, transparency, detection of price mark-ups, access to commodity exchange of economic analysts and specialists, establishment of a center for oil transportation, access of international market players to this sector as a result of elimination of problems and political obstacles are considered as opportunities for putting up oil for sale at the exchange.
"It is the right step. Such transparency helps to improve functionality. Besides, the customers enter market according to results of relevant analysis and using their own potential," he said.
The expert noted that the energy exchanges can play significant and efficient role in the economic systems of countries, but there is a gap between the Iranian exchange and the world’s developed exchanges.
"Hopefully, the entry of oil into the exchange will give an impetus to development of the stock exchange further," he added.
"The institutions should be established in such a way that they would exert positive influence on the economy in the long run, and that they would not result in deterioration of image of the exchange," he concluded.