Business
August 28-September 1, 2000 / Shahrivar 7-11,
1379
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BUSINESS NEWS INDEX
Friday,
September 1, 2000
Iran Speaker meets Chevron,Conoco over US sanctions
TEHRAN, Sept 1 (Reuters) - Iran's parliament speaker has met representatives
of Chevron Corp (NYSE:CHV - news), Conoco Inc (NYSE:COC - news) and other
U.S. oil firms and demanded an end to U.S. sanctions against Tehran, the
official Iranian news agency IRNA reported on Friday. ``America should
lift them (sanctions) and end its hostile behaviour against Iran,'' IRNA
quoted paliament speaker Mehdi Karroubi as saying at the meeting on Thursday
>>> FULL
TEXT
INDEX
Exxon Mobil at anti-Iran sanctions meet-trade group
NEW YORK, Sept 1 (Reuters) - The No. 1 U.S. oil company Exxon Mobil
(NYSE:XOM - news) was part of a three-strong group of energy firms that
met with a senior Iranian politician this week to discuss how to work against
U.S. trade sanctions on the country. Exxon Mobil joined the No. 2 Chevron
Corp (NYSE:CHV - news) and Conoco (NYSE:COCa - news) at Thursday's meeting
with Iran's parliamentary speaker Mehdi Karroubi, said Hooshang Amirahmadi,
President of the American-Iranian council, which arranged the meeting >>> FULL TEXT
INDEX
Iranian traders hope privatisation will bring "caviar renaissance"
TEHRAN, Aug 31 (AFP) - Caviar, for long a key part of Iranian feasts,
has become out of reach even for wealthy Iranians, but traders are pinning
their hopes on privatisation to bring about a renaissance. "There
is no solution other than the privatisation that the government has accepted.
And we will be able to sell to the Americans who have ended their embargo
on this product," explained businessman Behrouz Neshati, who travels
frequently to Britain and the United States >>>
FULL TEXT
INDEX
INDEX
* Iran Speaker meets Chevron,Conoco over
US sanctions
* Exxon Mobil at anti-Iran sanctions meet-trade group
* Iranian traders hope privatisation will bring "caviar
renaissance"
* US oil holds above $33 despite promise of Saudi supply
* Oil Overheats Despite Crude Stock Rise
* Iran moves to spend oil windfall on job creation.
* Conoco hopeful of improving ties with Libya, Iran
* Iran says 3-year energy discoveries worth $125 bln.
* Iran tenders South Pars gas field phases 9-12
* Oil up as Venezuela, Iran say supply OK
* Iran energy finds shift emphasis back to Persian Gulf
* Iran to privatise 100 copper and lead mines
* Oil minister praises economic reforms
* Steel plant in Kuwait to be Iran's first factory abroad
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Thursday
August 31, 2000
US oil holds above $33 despite promise of Saudi supply
NEW YORK, Aug 31 (Reuters) - U.S. oil held strong above $33 a barrel
Thursday as traders shrugged off signals from OPEC delegates that kingpin
Saudi Arabia was ready to increase output unilaterally if necessary to
lower crude prices. October crude oil futures on the New York Mercantile
Exchange (NYMEX) settled at $33.12 a barrel, down just 20 cents after trading
as high as $33.70 in intraday activity.>>>
FULL TEXT
INDEX
Wednesday
August 30, 2000
Oil Overheats Despite Crude Stock Rise
LONDON (Reuters) - Blazing oil prices showed no signs of retreating
Wednesday, trading steady despite reports of a big increase in U.S. crude
stocks as fears of heating oil shortages this winter in the West mounted.
International benchmark Brent crude futures for October delivery were trading
nine cents higher at $31.45 in the afternoon while U.S. light crude futures
were four cents up at $32.78 >>>
FULL TEXT
INDEX
Tuesday
August 29, 2000
Iran moves to spend oil windfall on job creation.
By Mehrdad Balali
TEHRAN, Aug 28 (Reuters) - Iran is rushing to invest billions of dollars
in surplus oil revenue to revive the stagnant economy and address chronic
unemployment, officials said on Monday. But economists say structural reform,
not a big cash infusion, is the key to sustainable economic recovery >>>
FULL TEXT
INDEX
Conoco hopeful of improving ties with Libya, Iran
HOUSTON, Aug 29 (Reuters) - A senior Conoco Inc. (NYSE:COCa - news)
executive said on Tuesday he was hopeful that a gradual improvement in
U.S. relations with Libya and Iran would lead eventually to a lifting of
unilateral U.S. sanctions that prohibit U.S. investment in both countries'
oil industries. Rob McKee, Conoco's executive vice president for exploration
and production, said there were already signs that relations with Libya
had started to thaw since that country handed over two suspects for trial
in the 1988 bombing of a U.S. airliner >>>
FULL TEXT
INDEX
Iran says 3-year energy discoveries worth $125 bln.
TEHRAN, Aug 28 (Reuters) - Iran said on Monday it had discovered oil
and gas reserves worth $125 billion in the past three years. Iran found
5.34 billion barrels of crude and liquid gas, 28.7 trillion cubic feet
(820 billion cubic metres) of mainly sweet natural gas during the same
period, said Mahmoud Mohaddes, director of exploration at the National
Iranian Oil Company
>>> FULL TEXT
INDEX
Iran tenders South Pars gas field phases 9-12
TEHRAN, Aug 29 (Reuters) - Iran tendered on Tuesday four new phases
of its giant offshore South Pars gas field project. National Iranian Oil
Company (NIOC) issued a statement inviting national and international contractors
to take part in the development of phases nine to 12 of South Pars, Iran's
largest gas field holding seven percent of global reserves >>>
FULL TEXT
INDEX
Oil up as Venezuela, Iran say supply OK
LONDON (Reuters) - Oil prices jumped again on Tuesday, adding almost
another dollar a barrel to a runaway market as fears mounted of winter
supply shortages in the West. Dealers took fright at the latest comments
from OPEC, whose president, Ali Rodriguez of Venezuela, blamed high taxation
among consumer nations and refinery bottlenecks for soaring prices >>>
FULL TEXT
INDEX
Monday
August 28, 2000
Iran energy finds shift emphasis back to Persian Gulf
TEHRAN, Aug 26 (AFP) - Iran's latest major oil and gas discoveries will
help return the world market's attention to the low-cost energy reserves
in the Persian Gulf, to the benefit of Iraq and Saudi Arabia, analysts
say. The finds also add to the pressure on the United States to reconsider
its unilateral sanctions against Iran, as US firms find themselves increasingly
unhappy at being locked out of Iran's lucrative energy sector >>> FULL TEXT
INDEX
Iran to privatise 100 copper and lead mines
TEHRAN, Aug 26 (AFP) - Iran plans to privatise some 100 of its smaller
copper and lead mines, which would also be made available to foreign companies,
the state IRNA news agency reported Saturday. Mining ministry director
Abolqassem Ataei said the mines would be sold to Iran's private sector
or foreign firms but gave no further details on when the transfers might
take place >>>
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INDEX
Oil minister praises economic reforms
TEHRAN, Aug 28 (AFP) - Oil Minister Bijan Namdar-Zanganeh gave a ringing
endorsement of President Mohammad Khatami's programme of economic reforms
in an interview in Monday's press. He told the Hamshahri paper that the
reformist president's moves to revive the struggling economy were the "most
successful" he has seen in his long career in the Iranian government
>>>
FULL TEXT
INDEX
Steel plant in Kuwait to be Iran's first factory abroad
TEHRAN, Aug 26 (AFP) - Iran will build a steel plant in Kuwait that
marks the Islamic republic's first-ever industrial factory abroad, the
official IRNA news agency reported Saturday >>>
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