TEHRAN (PIN) - Iran's Bourse Council has given the go ahead to establishment of
the first-ever oil, gas and petrochemical stock market in the Islamic Republic,
a deputy minister of oil said.
Mohammad Javad Assemipur told PIN the national council has promised to lay the
foundation for the oil, gas and petrochemical bourse.
Assemipur, also in charge of the country's oil bourse, said the stock market
will play a significant role in national revenues and transparency in the oil
deals.
He said the idea behind this oil bourse came from the government of outgoing
President Mohammad Khatami. Assemipur said: "In the first stage, oil products
and petrochemicals would be traded in this bourse."
"We sought consultation from 180 stock markets and relevant institutes in the
world before deciding to open this bourse in Iran. But we have not copied their
structures and we have our own system in the country," he added.
Iran's oil bourse will be the first of the kind in the Middle East and notably
within the Organization of Petroleum Exporting Countries.
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