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March 1-5, 1999 / Esfand 10-15,1377
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* Firms in Iran deals seen escaping U.S. sanctions
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* Oil companies poised for deals in Iran
* Iran/Iraq oil investment risks abound, analysts warn
* Iran says Khatami to discuss oil deals in Italy
* Italy to defend Iran oil deal in U.S.
* U.S. oil companies press U.S. for Iran access
* Saudi Arabia, Iran agree OPEC must keep to pledged cuts
* N.J. executive pleads guilty to Iran arms scheme
* U.S. to review Iran-Europe oil deal
* US senators call for allowing wheat exports to Iran
* Elf to begin work soon on Iran oil project
* U.S. oil firms in long wait for end of Iran ban
* U.S. oil firms seeking Iran sanctions end
* Elf, ENI sign 540 million dollar oil deal with Iran
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Updated March 5, 1999
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Friday,
March 5, 1999
* Non-U.S. firms in Iran energy deals seen escaping U.S. sanctions
NEW YORK, March 5 (Reuters) - International oil firms keen on Iranian
energy-sector deals face slim risk of U.S. sanctions after Washington failed
to penalise an international consortium that sealed a landmark deal last
year, experts said this week. The potential payoff for many firms seems
to offset even a slight risk, since Iran has the world's second-largest
natural gas reserves and fifth-largest pool of oil reserves ... FULL
TEXT
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Thursday
March 4, 1999
* Oil companies poised for deals in Iran
PARIS, March 4 (UPI) -- In what are seen as new, emerging blows to U.
S. government efforts to block large-scale oil investments in Iran, Western
European, British and Canadian oil companies are on the verge of signing
multi-billion dollar oil and gas deals in Tehran. Industry and diplomatic
sources say if deals now in the final stages of negotiation go through,
U.S. oil companies seeking business in Iran will be left handicapped and
on the sidelines, possibly for several more years ... FULL
TEXT
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* Iran/Iraq oil investment risks abound, analysts warn
NEW YORK, March 3 (Reuters) - International oil firms weighing lucrative
oil and gas investments in Iran or Iraq need to note the political and
security risks involved, analysts said here this week. And that's in addition
to economic and legal risks and other challenges involved, they pointed
out at an Iran/Iraq energy conference in New York ... FULL
TEXT
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Wednesday
March 3, 1999
* Iran says Khatami to discuss oil deals in Italy
TEHRAN, March 3 (Reuters) - Iranian President Mohammad Khatami will
hold talks on oil cooperation during his visit to Italy next week, a senior
Iranian official said on Wednesday. Deputy Oil Minister Mehdi Hosseini
also said Iran was discussing further projects with Italian energy giant
ENI (ENI.MI), which joined France's Elf Aquitaine (ELFP.PA) in signing
a $1 billion oil deal with Tehran this week, the Iranian news agency IRNA
reported ... FULL
TEXT
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* Italy to defend Iran oil deal in U.S.
ROME, March 3 (Reuters) - Italian Foreign Minister Lamberto Dini said
Wednesday a $1 billion oil deal with Iran involving Italy's ENI (ENI.MI)
and France's Elf-Aquitaine (ELFP.PA) was smaller than Iran's gas accord
with Total of France which escaped U.S. sanctions last year. Speaking on
the eve of a visit to Washington with Prime Minister Massimo D'Alema, Dini
said Italian leaders expected U.S. officials to raise the new contract
in their talks ... FULL
TEXT
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* U.S. oil companies press U.S. for Iran access
NEW YORK (Reuters) - Just a day after the State Department warned it
would review a $1.0 billion oil deal between Iran and two European oil
companies, two of the largest domestic oil companies said they wanted an
end to sanctions. Atlantic Richfield Co., the fifth-largest U.S. oil company,
said Wednesday that not only were sanctions bad for the Los Angeles-based
company, but they were bad for U.S. business ... FULL
TEXT
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* Saudi Arabia, Iran agree OPEC must keep to pledged cuts
MUSCAT, March 3 (AFP) - Saudi Arabia and Iran agree that OPEC must keep
to its pledged output cuts and combine its efforts with non-OPEC producers
to curb the slump in oil prices, the Saudi foreign minister said Wednesday.
Prince Saud al-Faisal said Riyadh and Tehran saw eye to eye on the "deterioration
of the situation on the oil market and the need for OPEC to keep its commitments."
... FULL TEX
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* N.J. executive pleads guilty to Iran arms scheme
NEWARK, N.J., March 3 (Reuters) - A New Jersey aviation executive pleaded
guilty on Wednesday for his part in a scheme to ship U.S.-made missile
and military jet parts to Iran. Daniel Malloy, 41, owner of International
Helicopter Inc. of Northvale, pleaded guilty to 10 counts of an 18-count
indictment in U.S. District Court, the U.S. Attorney's office for the district
of New Jersey said ... FULL
TEXT
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Tuesday
March 2, 1999
* U.S. to review Iran-Europe oil deal
WASHINGTON, March 2 (Reuters) - The United States said on Tuesday it
will review a new $1 billion Iran-Europe oil deal for violations of U.S.
sanctions law but the possibility of penalties that could sour trans-Atlantic
ties seemed remote. Nevertheless, State Department spokesman James Foley
noted that Secretary of State Madeleine Albright, discussing last year's
decision to waive sanctions on a $2 billion deal involving France's Total
SA and two other firms, promised more waivers for European Union companies
so long as the EU cooperated with Washington on Iran policy ... FULL
TEXT
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* US senators call for allowing wheat exports to Iran
WASHINGTON, March 2 (AFP) - A group of US senators is calling for lifting
restrictions on exports of wheat and other agricultural products to Iran.
Byron Dorgan, a Democrat from North Dakota, and Republicans Larry Craig
of Idaho and Richard Lugar of Indiana, met Monday with national security
adviser Sandy Berger to discuss the matter, spokesmen for the lawmakers
said ... FULL
TEXT
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* Elf to begin work soon on Iran oil project, Elf exec says
NEW YORK, March 2 (Reuters) - French oil firm Elf Aquitaine and partner
Italy's ENI will begin work soon on a $1 billion oil project in Iran that
drew fire from Washington, an Elf official said on Tuesday. ``The signing
was done last night and it is finished; we have to do the work now,'' Christian
Chomat, Iran and Iraq specialist for Elf exploration and production, told
Reuters ... FULL
TEXT
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* U.S. oil firms seen in long wait for end of Iran ban
NEW YORK, March 2 (Reuters) - U.S. oil companies -- eyeing a slice of
Tehran's rich oil and gas projects pie -- are in for a long wait for the
end or an easing of a ban on American investment in Iran, analysts said
on Tuesday. They told an Iran/Iraq energy conference in New York that despite
some improvement in Washington and Tehran relations since the 1997 election
of moderate Iranian President Mohammad Khatami, there would be no tangible
progress before the Iran-Libya Sanctions Act expires in 2001 ... FULL
TEXT
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* U.S. oil firms seeking Iran sanctions end, Conoco exec says
NEW YORK, March 1 (Reuters) - U.S. oil firms are continuing efforts
to get Washington to end unilateral sanctions barring American investment
in Iran's lucrative oil and gas sector, a senior executive with U.S. oil
major Conoco Inc. said on Monday. ``We're continuing to work on that, but
we don't see anything on the horizon so far,'' said Ted Davis, Conoco's
president of exploration production in Africa, Asia and the Middle East
... FULL
TEXT
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Monday
March 1, 1999
* Elf, ENI sign 540 million dollar oil deal with Iran
TEHRAN, Mar 1 (AFP) - Petroleum giants Elf Aquitaine of France and Italy's
ENI signed a 540 million dollar contract Monday to develop an Iranian oil
field despite the threat of US sanctions over heavy investment in Iran's
oil sector. The firms signed the nine-year contract with Deputy Oil Minister
Mehdi Hosseini to increase production at the offshore Dorud field in the
northern Gulf, Iran's oldest operational oil field ... FULL
TEXT
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