http://en.wikipedia.org/wiki/Petroeuro
"A petroeuro is a petroleum trade valued on the euro as opposed to the US dollar (a petrodollar)."

"On March 20, 2006, Iran is planning to open an International Oil Bourse for the express purpose of trading oil priced exclusively in Euros. This will establish a Euro based pricing mechanism, or 'oil marker' as it is called by traders. The three current oil markers are US dollar denominated"

Interesting...