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