Bringing extensive experience in Asia and the Middle East to the existing Board, Dr. Fesharaki is chairman of FACTS Global Energy, an energy consultancy firm with offices in Singapore, London and Hawaii. He is also co-editor of the East-West Center publication “Asia’s Energy Future: Regional Dynamics and Global Implications.” In addition, he is a member of the Advisory Board of Nippon Oil, Japan's largest oil company; member of the Board of Directors of the American Iranian Council; member of the National Petroleum Council in Washington D.C.; Member of the Council on Foreign Relations in New York; and a Senior Associate of the Center for Strategic and International Studies in Washington D.C.
“Price transparency and price discovery are key to the efficient functioning of the oil market,” said Fesharaki. “While the U.S. and Europe have well functioning exchanges, Asia-Middle East has lacked such a vehicle. Dubai Mercantile Exchange is the first ever commodity exchange dealing with the oil markets in Asia and Middle East.”
Celebrating its second anniversary in June 2009, the DME has developed and trades the DME Oman Crude Oil Futures Contract, addressing the growing marketing need for price discovery of sour crude oil destined for East of Suez markets. It is a fully electronic exchange, with its contracts listed on CME Globex.
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The EAST-WEST CENTER is an education and research organization established by the U.S. Congress in 1960 to strengthen relations and understanding among the peoples and nations of Asia, the Pacific, and the United States. The Center contributes to a peaceful, prosperous and just Asia Pacific community by serving as a vigorous hub for cooperative research, education and dialogue on critical issues of common concern to the Asia Pacific region and the United States. Funding for the Center comes from the U.S. government, with additional support provided by private agencies, individuals, foundations, corporations, and the governments of the region.