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July 3-7, 2000 / Tir 13-17, 1379

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July 7, 2000

Iran and Germany aim to strengthen their economic ties

TEHRAN, July 7 (AFP) - Germany, which Iranian President Mohammad Khatami visits from Monday, wants to remain Tehran's leading supplier of goods, reversing the decline in trade and strengthening industrial ties. Trade has been on the downtrend since 1993, after relations soured somewhat when a German court accused the Iranian leadership of direct involvement in the murder of Iranian Kurdish dissidents in Germany >>> FULL TEXT



* Iran and Germany aim to strengthen their economic ties
* U.S. oil dips below $30 on Saudi supply
* Iran blasts Saudi plan to hike oil production
* Foreign companies to finance major petro plant
* Kuwait turns to Iran after border deal with Saudi

* Iran increases oil production

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July 6, 2000

U.S. oil dips below $30 on Saudi supply reassurance

NEW YORK, July 6 (Reuters) - U.S. crude oil prices slid for the second straight day Thursday, breaking below $30 a barrel, on reassurances that Saudi Arabia and other Mideast oil suppliers were serious about raising daily production. For the first time in nearly four weeks, U.S. benchmark West Texas Intermediate on the New York Mercantile Exchange (NYMEX) settled below the $30 mark, at $29.99 exactly with a loss of 68 cents >>> FULL TEXT


July 5, 2000

Iran blasts Saudi plan to hike oil production by 500,000 bpd

TEHRAN, July 4 (AFP) - Iran Tuesday blasted Saudi Arabia's intention to hike its oil production by 500,000 barrels per day "very soon" if crude oil prices remain high. "There is no reason to violate OPEC agreements," the state news agency IRNA quoted an unidentified Iranian oil ministry official as saying, in reference to the oil cartel's decision to raise output by 700,000 bpd >>> FULL TEXT


Foreign companies to finance bulk of major petrochemical plant

TEHRAN, July 5 (AFP) - A consortium of foreign companies will finance 70 percent of a major petrochemical plant to be built in the western Iranian province of Kermanshah, the head of the project was quoted by a newspaper Wednesday as saying. The Abrar-e-Eghtessad daily did not identify the companies, but quoted Mohammad-Sadeq Mussavi Lari as saying "70 percent of the cost will come from a consortium of private foreign companies and 30 percent from the sale of shares on the stock market." >>> FULL TEXT


July 4, 2000


July 3, 2000

Kuwait turns to Iran after border deal with Saudi Arabia

KUWAIT CITY, July 3 (AFP) - Kuwait is setting its sights on a border settlement with Iran to resolve an offshore gas dispute after having sealed a maritime border accord with another regional power, Saudi Arabia. "I believe the Saudi-Kuwaiti deal has laid the foundation for an agreement with Iran" over the Dorra gas field, said political analyst Ahmad Bishara, who heads the National Democratic Forum, a liberal grouping >>> FULL TEXT


Iran increases oil production by 104,000 barrels per day: radio

TEHRAN, July 1 (AFP) - Iran is increasing crude oil production by 104,000 barrels per day (bpd) from Saturday, Oil Minister Bijan Namdar-Zangeneh was quoted as saying by the radio. "This increase is in line with Iran's share in the agreed upon OPEC increase of 708,000 bpd due to begin on July 1 and the additional 104,000 barrels will be exported," Zangeneh said >>> FULL TEXT


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