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April 12-April 16, 1999 / Farrvardin 23-27, 1378

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Today

* Khatami to visit Saudi

Previous

* Iran to cut oil exports 12 pct a month in 99'
* State body blocks liberal free trade zone law
* ARCO pushes for future Iran oil deal
* Iran, Russia agree on oil and gas cooperation
* Iran praises Saudi over oil, differences remain
* Oil firms seen breaking U.S.-Iran ice
* Japanese eye Iran oil despite sanctions
* Oil prices boosted by Balkan crisis, Iran cut
* U.S. firm ARCO in talks on Iranian oilfields
* Iran to award oil buy-back deals soon

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$ Rate

Updated April 16, 1999

* To send money to Iran, the rate is 785-805 tomans per dollar, depending on how much you wish to send.

* To send money out of Iran, the rate is 813 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 16, 1999

* Khatami to visit Saudi

RIYADH, Saudi Arabia, April 15 (UPI) -- A Saudi newspaper, Ukaz, has reported that Iranian President Mohammad Khatemi will make an official visit to Saudi Arabia next month, the first by an Iranian president since the 1979 Islamic revolution ... FULL TEXT

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Thursday
April 15, 1999

* Iran to cut oil exports 12 pct a month in 99'

DUBAI, April 15 (Reuters) - Iran said on Thursday it cut oil exports by 10 percent in April and would reduce them by 12 percent a month for the rest of 1999, denying reports it was slow among OPEC producers cutting exports to meet new supply curbs ... FULL TEXT

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Wednesday
April 14, 1999

* Iran state body blocks liberal free trade zone law

TEHRAN, April 14 (Reuters) - A clergy-based Iranian state body on Wednesday rejected a liberal law that would draw foreign investment to Iran's free trade zones, the official news agency IRNA reported ... FULL TEXT

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* ARCO pushes for future Iran oil deal

MANAMA, April 14 (Reuters) - U.S. energy major Atlantic Richfield Co (ARCO) said it was pressing forward with negotiations on developing oilfields in Iran and expressed hope of clinching a deal once U.S. sanctions are lifted ... FULL TEXT

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* Iran, Russia agree on oil and gas cooperation

TEHRAN, April 14 (Reuters) - Iran and Russia reached an initial agreement on Wednesday to cooperate on oil and gas projects and in the field of petrochemicals, Iranian state television reported ... FULL TEXT

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* Iran praises Saudi over oil, differences remain

TEHRAN, April 14 (Reuters) - Iranian leaders and media have heaped praise on Saudi Arabia for helping lift oil prices, but conservative newspapers said on Wednesday sharp differences still hampered full rapprochment between the former rivals ... FULL TEXT

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Tuesday
April 13, 1999

* Oil firms seen breaking U.S.-Iran ice

MANAMA, April 13 (Reuters) - Iranian-American energy executive Bijan Mossavar-Rahmani said on Tuesday he was more confident than ever that oil will persuade arch-rivals Washington and Tehran to bury years of animosity and resume talking business. ``Oil is where Iran needs the United States most immediately in terms of money, technology, know-how and oil is what the U.S. business most seeks in Iran. Oil is what will lubricate this relationship,'' he told Reuters in an interview ... FULL TEXT

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* Japanese eye Iran oil despite sanctions

MANAMA, April 13 (Reuters) - Japanese companies are losing patience with the threat of U.S. sanctions against firms that invest in Iran and are considering ways of doing big business there, a Japanese oil official said on Tuesday. ``I am not sure Japanese companies can wait until the U.S. government lifts sanctions completely,'' Ikuro Sugawara, general manager of Japan National Oil Corp (JNOC), told Reuters in an interview on the sidelines of an oil conference in Bahrain ... FULL TEXT

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* Oil prices boosted by Balkan crisis, Iran output cut

NEW YORK, April 13 (Reuters) - Oil rose on a combination of bullish headlines on Tuesday, including fears of a widening Balkans crisis as well as production and export cuts by Iran and Saudi Arabia, traders said. There was also some support from speculative traders buying back contracts they had previously sold, pushing the May contract on the New York Mercantile Exchange to settle 32 cents higher at $16.72 a barrel ... FULL TEXT

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Monday
April 12, 1999

* U.S. firm ARCO in talks on Iranian oilfields

MANAMA, April 12 (Reuters) - U.S. oil major Atlantic Richfield Co (ARCO) said on Monday it was holding talks with Iran on developing unnamed onshore oilfields in the country. ``Our ongoing talks with Tehran are now focused on certain onshore fields,'' ARCO Executive Vice-President Don Voelte told an oil conference in Bahrain ... FULL TEXT

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* Iran to award oil buy-back deals soon

MANAMA, April 12 (Reuters) - Iranian Deputy Minister of Petroleum for International Affairs Seyyed Mehdi Hosseini said on Monday his country expected to finalise soon several so-called buy-back deals with foreign oil firms. ``Most of these projects will be concluded in the very near future,'' he told Reuters on the sidelines of the Middle East Petroleum and Gas Conference in Bahrain ... FULL TEXT

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$ Rate

Updated April 16

The dollar now offered at 785-805 tomans in the U.S. and 813 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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