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 GoKish -> News -> Crude oil at the Kish Oil Exchange
Crude oil at the Kish Oil Exchange

      The Minister of Oil commented on the oil exchange activities by saying: The Stock Exchange for oil byproducts became operational with the collaboration of the Ministry of Economy and we are endeavoring to bring crude oil to the exchange. But, as the crude oil business is more complicated, it needs to be studied further. Nozari assessed the exchange activities as positive and said: The start of activities for the oil exchange are evaluated as good. It has put a stop to the chaotic bitumen market. 2700 lorries of bitumen were handled previously, while this figure reached 900 lorries once the real price was set. In answer to the question The government is both the supplier and demander at the exchange, he said: Each product is different. There is a government and a non-governmental sector for bitumen. The government is not involved in the petrochemicals sector. He commented on the starting price of oil at the exchange: The oil starting price must be argued and the market starting price is presently not regulated by supply and demand. He commented on the presence of the Chinese at the Yadavaran field development project: Currently, the field is being swept for mines and, although the Chinese continuously express their wish for participation in this field, we presume Sinuk is moving carefully until after the Olympic Games.
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