By NNN-IRNA
Tehran : Iranian Oil Minister Gholam Hossein Nozari has said that Iran’s Oil Bourse has been inaugurated to pave the way for international oil business to Iran in the near future.
The specialised bourse for oil derivatives and petrochemical products is regarded as a turning point in oil transactions, he said.
Nozari made the remarks in a ceremony Sunday marking the inauguration of Iran’s Oil Bourse in Tehran.
Iran’s share in the international oil trade is very low and such a bourse will help Iran take a leap in this sector in the near future, underlined the minister.
It is predicted that the event would prepare the grounds for the active presence of foreign investors in the Iranian oil industry and thus raise the country’s share in the global oil trade, he said.
Oil bourse is among the most complicated and lucrative markets in the world, said the minister, adding that Iran is to get a bigger foothold on the international markets.
Iran inaugurated its first ever oil products bourse on Sunday in Kish Free Trade Zone on the Persian Gulf.