Gholam-Hossein Nozari told Iran's Press TV satellite channel that the opening ceremony of the Oil Bourse would be attended by Minister of Economy and Financial Affairs Davoud Danesh Jaafari, who will head the bourse.
He said earlier the Oil Bourse will be located on the Persian Gulf island of Kish and that all financial settlements will be made in Iran's national currency, the rial.
The minister said his country's oil revenue will reach $63 billion by the end of this Iranian year, which ends on March 20.
He said oil sales reached $55 billion in the first 11 months of the year, and that "if crude prices stand at the current level, next year's oil revenues will be the same as this year."
Nozari announced last week that Iran's crude oil production had reached 4.184 million barrels per day, the highest level since the 1979 Islamic Revolution.
Add to blog
You may place this material on your blog by copying the link.
Image Galleries: Siberian Air Base Gets New Su-30SM Fighter Jets
Infographics: First Russian Smartphone
New ties between Russia and Japan would mark not only a breakthrough in their relations but also a significant shift in Northeast Asia’s political dynamic. Both are secondary players in a region overshadowed by an increasingly assertive China, which has not hesitated to push against the boundaries of its neighbors.