|
Oil Bourse
An oil bourse is a commodities exchange where energy commodities such as crude oil and natural gas are traded. Examples include the New York Mercantile Exchange and the Intercontinental Exchange. In 2005, an Iranian oil bourse was announced and promised to offer an alternative to trading oil in Petrodollar recycling, petrodollars, using instead the Petrocurrency, petroeuro as its trading currency. Despite several attempts to implement it over one and a half decades, the Iranian oil bourse never got off the ground and in January 2020 was officially cancelled. References Commodity exchanges {{Stockexchange-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodities Exchange
A commodities exchange is an exchange, or market, where various commodities are traded. Most commodity markets around the world trade in agricultural products and other raw materials (like wheat, barley, sugar, maize, cotton, cocoa, coffee, milk products, pork bellies, oil, and metals). Trading includes various types of derivatives contracts based on these commodities, such as forwards, futures and options, as well as spot trades (for immediate delivery). A futures contract provides that an agreed quantity and quality of the commodity will be delivered at some agreed future date. A farmer raising corn can sell a futures contract on his corn, which will not be harvested for several months, and gets a guarantee of the price he will be paid when he delivers; a breakfast cereal producer buys the contract and gets a guarantee that the price will not go up when it is delivered. This protects the farmer from price drops and the buyer from price rises. Speculators and investor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Crude Oil
Petroleum, also known as crude oil or simply oil, is a naturally occurring, yellowish-black liquid chemical mixture found in geological formations, consisting mainly of hydrocarbons. The term ''petroleum'' refers both to naturally occurring unprocessed crude oil, as well as to petroleum products that consist of refined crude oil. Petroleum is a fossil fuel formed over millions of years from anaerobic decay of organic materials from buried prehistoric organisms, particularly planktons and algae, and 70% of the world's oil deposits were formed during the Mesozoic. Conventional reserves of petroleum are primarily recovered by drilling, which is done after a study of the relevant structural geology, analysis of the sedimentary basin, and characterization of the petroleum reservoir. There are also unconventional reserves such as oil sands and oil shale which are recovered by other means such as fracking. Once extracted, oil is refined and separated, most easily by disti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Natural Gas
Natural gas (also fossil gas, methane gas, and gas) is a naturally occurring compound of gaseous hydrocarbons, primarily methane (95%), small amounts of higher alkanes, and traces of carbon dioxide and nitrogen, hydrogen sulfide and helium. Methane is a colorless and odorless gas, and, after carbon dioxide, is the second-greatest greenhouse gas that contributes to global climate change. Because natural gas is odorless, a commercial odorizer, such as Methanethiol (mercaptan brand), that smells of hydrogen sulfide (rotten eggs) is added to the gas for the ready detection of gas leaks. Natural gas is a fossil fuel that is formed when layers of organic matter (primarily marine microorganisms) are thermally decomposed under oxygen-free conditions, subjected to intense heat and pressure underground over millions of years. The energy that the decayed organisms originally obtained from the sun via photosynthesis is stored as chemical energy within the molecules of methane and other ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Mercantile Exchange
The New York Mercantile Exchange (NYMEX) is a commodity futures exchange owned and operated by CME Group of Chicago. NYMEX is located at One North End Avenue in Brookfield Place in the Battery Park City section of Manhattan, New York City. The company's two principal divisions are the New York Mercantile Exchange and Commodity Exchange, Inc (COMEX), once separately owned exchanges. NYMEX traces its history to 1882 and for most of its history, as was common of exchanges, it was owned by the members who traded there. Later, NYMEX Holdings, Inc., the former parent company of the New York Mercantile Exchange and COMEX, went public and became listed on the New York Stock Exchange on November 17, 2006, under the ticker symbol NMX. On March 17, 2008, Chicago based CME Group signed a definitive agreement to acquire NYMEX Holdings, Inc. for $11.2 billion in cash and stock and the takeover was completed in August 2008. Both NYMEX and COMEX now operate as designated contract marke ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intercontinental Exchange
Intercontinental Exchange, Inc. (ICE) is an American multinational financial services company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the ''Fortune'' 500, S&P 500, and Russell 1000, the company owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States, Canada, and Europe; the Liffe futures exchanges in Europe; the New York Stock Exchange, the world's largest stock exchange in terms of total market capitalization of its listed companies; equity options exchanges; and OTC energy, credit, and equity markets. ICE also owns and operates six central clearing houses: ICE Clear U.S., ICE Clear Europe, ICE Clear Singapore, ICE Clear Credit, ICE Clear Netherlands, and ICE NGX. ICE has offices in Atlanta; New York; London; Chicago; Bedford; Houston; Winnipeg; Amsterdam; Calg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Iranian Oil Bourse
The Iranian Oil Bourse (), International Oil Bourse, Iran Petroleum Exchange Kish Exchange or Oil Bourse in Kish (IOB; the official English language name is unclear) also known as Iran Crude Oil Exchange, is a Commodities exchange, commodity exchange, which opened its first phase on 17 February 2008. It was created in 2005. The history of Iran Mercantile Exchange and its links with the "international trading floor of crude oil and petrochemical products in the Kish Island" (IOB) have been published. The IOB is intended as an oil bourse for petroleum, petrochemicals and Natural gas, gas in various currencies other than the United States dollar, primarily the euro and Iranian rial and a basket of other major (non-US) currencies. The geographical location is at the Persian Gulf island of Kish, Iran, Kish which is designated by Iran as a free trade zone. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Petrodollar Recycling
Petrodollar recycling is the international spending or investment of a country's revenues from petroleum exports ("petrodollars"). It generally refers to the phenomenon of major List of countries by oil exports, petroleum-exporting states, mainly the OPEC#Membership, OPEC members plus Russia and Norway, earning more money from the export of crude oil than they could efficiently invest in their own economies. The resulting global interdependencies and financial flows, from oil producers back to oil consumers, can reach a scale of hundreds of billions of U.S. dollars per year – including a wide range of transactions in a variety of currencies, some Currency peg, pegged to the U.S. dollar and some not. These flows are heavily influenced by government-level decisions regarding international investment and aid, with important consequences for both global finance and petroleum politics. The phenomenon is most pronounced during periods when the price of oil is historically high. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Petrocurrency
Petrocurrency (or petrodollar) is a word used with three distinct meanings, often confused: #Dollars paid to oil-producing nations (petrodollar recycling)—a term invented in the 1970s meaning trading surpluses of oil-producing nations. #Currencies of oil-producing nations which tend to rise in value against other currencies when the price of oil rises (and fall when it falls). #Pricing of oil in US dollars: currencies used as a unit of account to price oil in the international market. Oil-producers' trading surpluses "Petrocurrency" or (more commonly) "petrodollars" are popular shorthand for revenues from petroleum exports, mainly from the OPEC members plus Russia and Norway. Especially during periods of historically expensive oil, the associated financial flows can reach a scale of hundreds of billions of US dollar-equivalents per year – including a wide range of transactions in a variety of currencies, some pegged to the US dollar and some not. Currencies correlated wi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
