Middle East Economic Survey

VOL. LII

No 44

2-Nov-2009

IRAN

Iran Inaugurates International Oil Products Exchange in Kish 

The chairman of Tehran’s Stock Exchange Ali Salehabadi inaugurated on 26 October Iran’s international crude and petrochemical products exchange that will operate from the island of Kish. In remarks to the press, Mr Salehabadi, who also heads the Iranian Oil Bourse, the first phase of which was opened in February 2008, said that the inauguration “will enhance Iran’s strategic position in the region.” He noted that “over 30 domestic companies and 20 foreign firms are active in the oil and petrochemical industries on Kish Island” and are already listed in the bourse. Iran’s petrochemical production amounts to 25% of all Middle East output, according to Mr Salehabadi.

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