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Iran inaugurates Oil Exchange officially

Oil&Gas Materials 13 July 2011 14:01
Iran inaugurated Oil Exchange in Kish island officially by putting 600,000 barrels of crude oil in exchange
Iran inaugurates Oil Exchange officially

Azerbaijan, Baku, July 13 / Trend D.Khatinoglu/

Iran inaugurated Oil Exchange in Kish island officially by putting 600,000 barrels of crude oil in exchange, reported ISNA. Iranian Oil Ministry caretaker Mohammad Aliabadi, the Minister of Economic Affairs and Finance Seyyed Shamseddin Hosseini, the head of Securities and Exchange Organization Ali Salehabadi and Vice President Mohammad-Reza Rahimi participated at inaguration ceremony.

Iran put 600,000 barrels of crude heavy oil on the international oil exchange at Kish Island on Wednesday.

The first crude heavy oil cargo from the Behregan oil field will be put on the oil exchange at the price of $115.18 per barrel on Wednesday.

Iran previously sold 35,000 tons of furnace fuel oil cargo and petrochemical products on the international oil exchange at Kish Island.

Iran has OPEC's second-highest oil output, and ranks second in the world in terms of natural gas reserves, after Russia.

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