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February 21-25, 2000 / Esfand 2-6, 1378

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Latest

* Crude prices surge higher
* Iran poll may herald Caspian oil shake-up

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* Reform needed to draw investment
* France's Valeo signs air conditioning deal with Iran
* Oil pressured as output rise seen likely
* Tehran metro inaugurated
* Iran rejects any increase in oil production

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Friday,
February 25, 2000

* Crude prices surge higher

NEW YORK (Reuters) - Crude oil prices in the United States ended the week sharply higher, just below a fresh nine-year high of $30.83, as production cuts by oil cartel OPEC continue to squeeze supply in the world's biggest oil consumer. Frantic trading on the New York Mercantile Exchange (NYMEX) pushed the front-month April crude oil futures contract above the January 1991 high of $30.46 a barrel just after midday >>> FULL TEXT

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* Iran poll may herald Caspian oil shake-up

MOSCOW, Feb 25 (Reuters) - Russia has welcomed the election of a reformist government in Iran , but analysts say it may mark the start of an upheaval in the politics of Caspian oil as three key players, Russia, Iran and Turkey, battle for supremacy. The Caspian Sea contains huge if undetermined oil and gas reserves, but is landlocked. Getting them out means building pipelines. And pipelines give transit countries cash and clout >>> FULL TEXT

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Thursday
February 24, 2000

* Reform needed to draw investment for mining, metals: minister

TEHRAN, Feb 24 (AFP) - Structural economic reform is needed if Iran is to draw its share of foreign investment to its cash-starved mining industries, Mines and Metals Minister Eshaq Jahangiri said Thursday. "Billions of dollars of foreign investment flow to many countries every year, but we don't receive our fair share due to numerous internal obstacles and hindrances," Jahangiri said in an exclusive interview with the Tehran Times >>> FULL TEXT

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Wednesday
February 23, 2000

* France's Valeo signs air conditioning deal with Iran

PARIS, Feb 23 (AFP) - French automobile equipment supplier Valeo on Wednesday said it had signed a letter of intent with two Iranian firms to create a joint venture in Iran to manufacture car airconditioning units. The deal was signed with Iran Khodro, through its Sapco subsidiary, and Iran Radiator, Valeo said in a statement >>> FULL TEXT

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Tuesday
February 22, 2000

* Oil pressured as output rise seen likely

LONDON, Feb 22 (Reuters) - Oil prices drifted sideways on Tuesday as nervous dealers weighed the prospect of OPEC capping a blistering year-long bull run by raising output in April. Benchmark Brent crude was five cents off at $25.88 a barrel in quiet trade following a week that has seen it slide 10 percent from a post-Gulf War peak of $28.78 hit on February 14 >>> FULL TEXT

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Monday
February 21, 2000

* Tehran metro inaugurated

TEHRAN, Iran ­­ President Mohammad Khatami on Monday inaugurated Tehran's first subway, describing it as an "inevitable necessity" for the traffic-clogged metropolis of 11 million people. Officials said they hoped the subway would help ease Tehran's excessive pollution and gridlocks caused mainly by an estimated 2 million cars, most of them more than 20 years old >>> FULL TEXT

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* Iran rejects any increase in oil production during second quarter

TEHRAN, Feb 21 (AFP) - Iranian Oil Minister Bijan Namdar Zanganeh on Monday completely ruled out an increase in OPEC production "during the second quarter of the year", the official IRNA agency reported >>> FULL TEXT

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U.S.-Iran Business Council Forum

The Iranian Trade Association, along with our host, the Washington International Trade Association will present the First Quarterly U.S.-Iran Business Council Forum: "The Process of Engagement" on Wednesday, February 3, 1999 in Washington, DC ... MORE DETAILS


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