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April 5-April 9, 1999 / Farrvardin 16-20, 1378

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Today

* Mobil calls for US-Iran rapprochement
* Shrinking stockpile helps lift oil prices

Previous

* OPEC March output lower, 85 pct compliance-survey
* Conference on petrochemical industry
* Iran to raise May oil export cut to at least 12%
* Premier Oil out of Iran oilfield deal-source
* France's Elf, Canada's Bow Valley sign Iran deal
* U.S. upset over French, Canadian oil deal with Iran
* 284,000 apply for cellular phones

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$ Rate

Updated April 9, 1999

* To send money to Iran, the rate is 790-808 tomans per dollar, depending on how much you wish to send.

* To send money out of Iran, the rate is 815 tomans per dollar.

Source: Sehaty Foreign Exchange. Preferntial rates for readers of The Iranian Times. Call in U.S.: 602-595-0777 OR 500-288-8881, Fax: 602-595-0222. Address: PO Box 3230, Carefree, AZ 85377, USA. Mention this code: BAJ 07


Friday,
April 9, 1999

* Mobil calls for US-Iran rapprochement, criticizes sanctions policy

WASHINGTON, April 9 (AFP) - US oil giant Mobil on Friday urged reconciliation between the United States and Iran and appealed for an easing in US sanctions against investment in the Iranian oil industry. "US-Iran rapprochement would go a long way to bolster regional harmony," the company said in an advertising message that appeared in the Washington Post ... FULL TEXT

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* Shrinking stockpile helps lift oil prices

LONDON, April 9 (Reuters) - Oil prices moved higher on Friday, buoyed by projections of a sharp decline this year in petroleum stockpiles. A brief scare over Russia's military intentions over Kosovo also helped boost prices after a mid-week relapse undercut a six-week oil market recovery ... FULL TEXT

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Thursday
April 8, 1999

* OPEC March output lower, 85 pct compliance-survey

LONDON, April 8 (Reuters) - OPEC curbed oil output in March before setting tight new supply limits which came into effect this month, a Reuters survey found. The Organisation of the Petroleum Exporting Countries sliced March output by 380,000 barrels a day to 27.59 million from a revised 27.97 million bpd in February, according to the survey of OPEC and oil industry officials and analysts ... FULL TEXT

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Wednesday
April 7, 1999

* Conference on petrochemical industry

tehran, april 7, irna -- international meetings on investment in iran's petrochemical industry is to be held in tehran from april 19-20 and at imam khomeini port (khuzestan province) on april 21 to introduce opportunities for investment in iranian petrochemical industry. deputy oil minister mohammad-reza nematzadeh told reporters here on wednesday that 160 representatives from economic and banking institutes and engineering and industrial centers from 30 countries in europe, asia, the middle east and the u.s. have applied for visas to attend the session ... FULL TEXT

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Tuesday
April 6, 1999

* Iran to raise May oil export cut to at least 12%

TEHRAN, April 6 (Reuters) - Iran said on Tuesday that it would raise its oil export cuts to at least 12 percent in May from at least 10 percent in April. ``The level of reduction of the export of crude oil in the month of April 1999 will be at least 10 percent and starting in May there will be at least a 12 percent reduction,'' said an Oil Ministry statement ... FULL TEXT

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* Premier Oil out of Iran oilfield deal-source

DUBAI, April 6 (Reuters) - Britain's Premier Oil has pulled out of a multi-million dollar deal to develop Iran's offshore Balal oilfield because of financing problems, an industry source said on Tuesday. ``They could not finance it,'' the source, who requested anonymity, told Reuters ... FULL TEXT

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Monday
April 5, 1999

* France's Elf, Canada's Bow Valley sign Iranian oil deal

TEHRAN, April 4 (AFP) - Two oil companies, Elf Aquitaine of France and Canada's Bow Valley, late Sunday signed a 300-million-dollar contract with Iran to exploit an oil deposit in the Gulf. The agreement flies in the face of the US D'Amato law, which threatens to slap sanctions on any foreign company investing more than 20 million dollars in Iran's oil sector ... FULL TEXT

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* U.S. upset over French, Canadian oil deal with Iran

WASHINGTON, April 5 (Reuters) - The U.S. government on Monday said it was disappointed over a $300 million oil development deal Iran signed with French and Canadian companies, and indicated it may punish the firms for violating a U.S. law limiting energy investments in Iran ... FULL TEXT

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$ Rate

Updated April 9

The dollar now offered at 790-808 tomans in the U.S. and 815 tomans in Iran

Sehaty Exchange (U.S.) 602-595-0777


Forum

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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