The Iranian Euro Bourse

grinu · Post by **grinu** » 21 Mar 2006, 12:28

As per posts above, bourse has been set back to middle of yr at earliest.

Totally_Baffled · Post by **Totally_Baffled** » 21 Mar 2006, 13:55

grinu wrote:As per posts above, bourse has been set back to middle of yr at earliest.

YAY! Delayed from March 2005 to March 2006 and now the middle of the year....

I smell BS regarding the IOB!

Joules · Post by **Joules** » 28 Mar 2006, 09:56

Totally_Baffled wrote:
grinu wrote:As per posts above, bourse has been set back to middle of yr at earliest.
YAY! Delayed from March 2005 to March 2006 and now the middle of the year....

I smell BS regarding the IOB!

Presumably Pravda have assumed the bourse opened according to the original schedule, without actually checking:

http://english.pravda.ru/world/asia/21- ... 7628-oil-0

skeptik · Post by **skeptik** » 28 Mar 2006, 10:23

Joules wrote:
Totally_Baffled wrote:
grinu wrote:As per posts above, bourse has been set back to middle of yr at earliest.
YAY! Delayed from March 2005 to March 2006 and now the middle of the year....

I smell BS regarding the IOB!
Presumably Pravda have assumed the bourse opened according to the original schedule, without actually checking:

http://english.pravda.ru/world/asia/21- ... 7628-oil-0

They dont have to check, Joules, its company policy at Pravda just to make stuff up.

Pravda is a comic. It has as much credibilty as the Sunday Sport has in the UK

I wouldnt believe a word they say unless it was backed up by other sources. Half their stuff is fiction and the other half KGB disinfo. Same as it ever was.

Remember the Sunday Sport classic "World War Two Bomber found on Moon" - thats about the level of Pravda.

Post by **clv101** » 26 Apr 2006, 21:01

Iran's oil stock exchange, next week
Tehran, April 26 - Oil Minister Kazem Vaziri Hamaneh said on Wednesday that the establishment of Oil Stock Exchange is in its final stage and the bourse will be launched in Iran in the next week.
http://www.iribnews.ir/Full_en.asp?news_id=212013&n=32

Also remember the UN Security Council has set a deadline of 28 April for Iran to freeze its programme of uranium enrichment...

So what's going to happen next week?

skeptik · Post by **skeptik** » 27 Apr 2006, 16:55

clv101 wrote:
So what's going to happen next week?

Well they'll probably take another picture of Leila the model down at the bank pretending to use a PC like they did last time (see page 7) .. but from a different angle ... and they'll lose the the old women, stand a few more blokes under the Bureau de Change board and have them writing on pieces of paper. Should look good. That will be the photo to accompany the announcement that the exchange is up and running.

That will either:

a) start world war 3
b) crash the dollar
c) do nothing.

select from a b or c according to your doomerosity/paranoia rating. . I'll take c.

grinu · Post by **grinu** » 03 May 2006, 21:55

Don't see it yet....

http://www.aljazeera.com/me.asp?service_ID=11145

http://www.iribnews.ir/Full_en.asp?news_id=212013&n=32

RevdTess · Post by **RevdTess** » 05 May 2006, 15:12

15:10 05May2006 RTRS-Iran President sees oil bourse open in 2 months

BAKU, May 5 (Reuters) - Iran plans to launch an oil bourse on the Gulf island of Kish within the next two months, Iranian President Mahmoud Ahmadinejad said on Friday.
"Our specialists are currently working on the plan and the bourse will start working within the next two months," he told a regional conference in the Azeri capital of Baku.
Iranian officials have previously said the bourse will be a small pilot operation trading only two or three petrochemical products and it would start before March 2007, a delay from the previous plans.
Western media and think-tanks have speculated that Iran's oil bourse could undermine the importance of the dollar by pricing the world's fourth biggest exports of crude in euros.
Mohammad Javad Asemipour, adviser to Iran's oil minister and head of the bourse project, has previously dismissed such suggestions as "propaganda" and rejected reports that the bourse was intended to rival exchanges being set up in Dubai and Qatar.
He has said switching to crude sales would have to be phased in gradually and was dependent on the success of the petrochemicals trading.
He said operations could be gradually expanded to swaps with northern countries and then crude oil - starting with low quality oil, but declined to specify the timeframe.
He has also said Iran has no plans to set prices in euros and added that the Iranian bourse is not meant to challenge the IPE and NYMEX exchanges, but simply intended to increase liquidity in Gulf energy trading.

skeptik · Post by **skeptik** » 05 May 2006, 15:20

BAKU, May 5 (Reuters) - Iran plans to launch an oil bourse on the Gulf island of Kish within the next two months,

Hunting the Snark by Lewis Carroll.

"Fit the Eighth: THE VANISHING"

They sought it with thimbles, they sought it with care;
They pursued it with forks and hope;
They threatened its life with a railway-share;
They charmed it with smiles and soap.

They shuddered to think that the chase might fail,
And the Beaver, excited at last,
Went bounding along on the tip of its tail,
For the daylight was nearly past.

"There is Thingumbob shouting!" the Bellman said,
"He is shouting like mad, only hark!
He is waving his hands, he is wagging his head,
He has certainly found a Snark!"

They gazed in delight, while the Butcher exclaimed
"He was always a desperate wag!"
They beheld him -- their Baker -- their hero unnamed --
On the top of a neighboring crag.

Erect and sublime, for one moment of time.
In the next, that wild figure they saw
(As if stung by a spasm) plunge into a chasm,
While they waited and listened in awe.

"It's a Snark!" was the sound that first came to their ears,
And seemed almost too good to be true.
Then followed a torrent of laughter and cheers:
Then the ominous words "It's a Boo-"

Then, silence. Some fancied they heard in the air
A weary and wandering sigh
Then sounded like "-jum!" but the others declare
It was only a breeze that went by.

They hunted till darkness came on, but they found
Not a button, or feather, or mark,
By which they could tell that they stood on the ground
Where the Baker had met with the Snark.

In the midst of the word he was trying to say,
In the midst of his laughter and glee,
He had softly and suddenly vanished away -- -
For the Snark was a Boojum, you see.

RevdTess · Post by **RevdTess** » 05 May 2006, 18:10

skeptik wrote:Hunting the Snark by Lewis Carroll.

And it's not so much a crude oil bourse as a petrochemical bourse. For a while. Until they decide it's a success. Or not. Maybe.

grinu · Post by **grinu** » 16 May 2006, 22:02

http://www.upi.com/Energy/view.php?Stor ... 2946-1590r

Iran to require oil payments in euros
TEHRAN, May 15 (UPI) -- Iranian President Mahmoud Ahmadinejad announced Friday that in July Iran will abandon dollar payments for its oil and natural gas exports in favor of euros.

The move comes amid a standoff between Tehran and Washington over Iran's nuclear fuel enrichment program. The Bush administration insists the program is cover for a nuclear weapons program, a charge that Iran denies.

All current international oil transactions on the New York Mercantile Exchange and London's International Petroleum Exchange are priced in dollars.

Middleeastforex.com reported May 13 that Ahmadinejad announced the change Friday during a visit to Baku, Azerbaijan.

Many political observers see the decision as an attempt to pressure Washington, which is attempting to line up other U.N. Security Council members to act against Iran for its nuclear policies.

Iran has also proposed establishing a euro-based Iranian oil bourse to compete with NYMEX and the IPE. The proposal was first put forward in the beginning of the Third Development Plan (2000-2005), and began to receive serious attention in 2005.

Some observers speculate that the Iranian switch to euros could negatively affect the dollar, as many central banks from oil importing nations could choose to stock up their currency reserves with euros rather than dollars.

http://www.gulf-daily-news.com/Story.as ... ueID=29047

Iran sets up euro-based oil bourse
TEHRAN: Iran's oil ministry took a step toward establishing an oil trading market denominated in euros, rather than the US dollar, by granting a license for the bourse, state-run television reported yesterday.

Just who would trade on the market wasn't immediately apparent.

Iranian television did not mention trading firms or governments willing to market or purchase products on the bourse, nor did it say when it would open for business.

"Iran has registered an oil bourse on the island of Kish in which oil would be sold in euros. The market will be the fifth oil market after New York, London, Singapore and Tokyo," the broadcast said.

Oil trading on those markets is conducted in dollars.

Iranian legislators earlier this year urged the government to set up the market to reduce the US' influence over the Islamic republic's economy. They also criticised Oil Minister Sayed Kazem Vaziri Hamaneh, saying he had delayed setting up the bourse.

If the market succeeds, observers say euro-denominated oil sales could eventually convince central bankers to convert some US dollar reserves into euros, offering potential for a decline in the dollar's value.

First floated in 2004 when president Mohammad Khatami was in power, the idea of a euros-traded oil bourse gained new life after the stridently nationalist Mahmoud Ahmadinejad was elected president last summer.

As the fourth largest oil producing country in the world, Iran has a measure of influence over international oil markets.

Post by **mikepepler** » 17 May 2006, 07:35

Well, the last country that started taking payments for it's oil exports in euros was Iraq around 2000.... and look what happened there.

Totally_Baffled · Post by **Totally_Baffled** » 17 May 2006, 12:45

mikepepler wrote:Well, the last country that started taking payments for it's oil exports in euros was Iraq around 2000.... and look what happened there.

If that was the reason , makes you wonder why we got involved?, Why would we give a monkeys about what Iraq/Iran selling oil in Euros?

Why would a potential dollar collapse motivate us to get involved more than the rest of western Europe, Japan and other major economies~?

Post by **mikepepler** » 17 May 2006, 12:51

Totally_Baffled wrote:
mikepepler wrote:Well, the last country that started taking payments for it's oil exports in euros was Iraq around 2000.... and look what happened there.
If that was the reason , makes you wonder why we got involved?, Why would we give a monkeys about what Iraq/Iran selling oil in Euros?

Why would a potential dollar collapse motivate us to get involved more than the rest of western Europe, Japan and other major economies~?

I don't think it was the main reason, but it must have figured in the decision - otherwise why was one of the Coalition Provisional Authority's first actions to move oil sales from euros straight back to dollars...

I'm still mystified why we're there at all. I guess it's partly the "special relationship" with the US, and maybe the UK's policy on ensuring oil supply lines up with that of the US?

skeptik · Post by **skeptik** » 17 May 2006, 13:16

mikepepler wrote:
I'm still mystified why we're there at all. I guess it's partly the "special relationship" with the US, and maybe the UK's policy on ensuring oil supply lines up with that of the US?

We are Dubyas fig leaf.

Usual old reasons... The normal mechanisms of international politics - blackmail, threats and/or bribery. Probably something to do with military technology, maybe Trident replacement or other big 'technology sharing' military contracts - "Do as I say or I wont let you play with the big boys toys any more".

... and/or threats to blow the whistle on the evil dooers in the Labour party. I'm guessing the FBI or NSA also has the dope on the high level paedofiles that Operation Ore turned up and TBliar managed to keep the lid on a few years ago.

PowerSwitch

The Iranian Euro Bourse

Iran President sees oil bourse open in 2 months

Re: Iran President sees oil bourse open in 2 months

Re: Iran President sees oil bourse open in 2 months