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September 11-15, 2000 / Shahrivar 21-25, 1379

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BUSINESS NEWS INDEX

Friday,
September 15, 2000

Iran says Shell to study gas-to-liquids project

DUBAI, Sept 14 (Reuters) - A unit of the Royal Dutch/Shell will study the development of a gas-to-liquids facility fed by natural gas from Iran's offshore South Pars field under an understanding signed with two Iranian state energy firms, one of the Iranian companies said. "National Petrochemical Company (NPC), National Iranian Oil Company (NIOC) and Shell International Gas Limited (Shell) signed a Memorandum of Understanding on September 11, 2000 to study the development of a Gas to Liquids (GTL) facility fed by natural gas from the giant South Pars gas field," the NPC said in a statement, received by Reuters late on Wednesday >>> FULL TEXT

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U.S. looks into possible Conoco sanctions breach

HOUSTON, Sept 14 (Reuters) - The U.S. Treasury Department is looking into whether Conoco Inc.(NYSE:COCa - news) might have breached U.S. sanctions by analysing seismic data from a giant oil discovery in Iran, a U.S. State Department spokesman said on Thursday. ``The issue of whether this is a sanctions violation is a decision that is made by the Treasury Department's Office of Foreign Assets Control. They are looking at it,'' State Department spokesman Bill Wanlund said >>> FULL TEXT

INDEX

INDEX

* Iran says Shell to study gas-to-liquids project
* U.S. looks into possible Conoco sanctions breach
* Conoco helped U.S. embargo target Iran-FT

* Iran to earn $10 billion in extra oil revenue: Zanganeh
* Iran seizes UAE vessel, two other oil ships
* Iran says set to accept foreign banks
* Iran-Russia sign transport deals
* Clinton Watching Oil Market Reaction to OPEC
* Oil prices surge on skepticism
* Iran sees key oil buyback deals signed in October
* Power station closed down by drought

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Thursday
September 14, 2000

Conoco helped U.S. embargo target Iran-FT

LONDON, Sept 14 (Reuters) - Oil giant Conoco has given Iran assistance in developing one of the world's largest oil fields, despite the risk of being accused of breaching U.S. sanctions against Iran, the Financial Times said on Thursday. Senior Iranian officials told the paper that Conoco helped analyse data collected last year by the National Iranian Oil Company (NIOC) from the Azadegan oil field on the understanding that the company would be given preference to develop the field once U.S. sanctions were lifted, the FT reported >>> FULL TEXT

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Wednesday
September 13, 2000

Iran to earn $10 billion in extra oil revenue: Zanganeh

TEHRAN, Sept 13 (AFP) - Surging prices should give Iran some 10 billion dollars in extra oil revenue by early next year, Oil Minister Bijan Namdar-Zanganeh said on Wednesday. He said Iran had already earned some four billion dollars in extra revenue between April and July thanks to a robust market which has more than tripled the price since record lows late last year >>> FULL TEXT

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Iran seizes UAE vessel, two other oil ships

TEHRAN, Sept 13 (AFP) - The Iranian navy seized three oil-carrying ships in its territorial waters, including one sailing under the flag of the United Arab Emirates, state television said Wednesday >>> FULL TEXT

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Tuesday
September 12, 2000

Iran says set to accept foreign banks

TEHRAN, Sept 11 (Reuters) - Iran on Monday invited applications from foreign banks and other financial institutions to operate in its free trade zones - the first such foreign involvement in Iran since the 1979 Islamic revolution. Bahram Zarrin-Qalam, Central Bank director on banking affairs, said administrative regulations had been approved, paving the way for foreign banks and other financial institutions to operate in the special zones >>> FULL TEXT

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Iran-Russia sign transport deals

MOSCOW (AP) - Russia signed a deal with India and Iran on Tuesday to speed cargo traffic between Asia and Europe in a bid to boost Russia's role as a conduit for world trade. The 10-year deal was reached during a two-day transport conference among representatives of 27 European and Asian countries in St. Petersburg, the Interfax and ITAR-Tass news agencies reported >>> FULL TEXT

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Clinton Watching Oil Market Reaction to OPEC

WASHINGTON (Reuters) - President Clinton said on Tuesday he was keeping a watchful eye on oil prices following OPEC's move to ramp up production and was considering emergency options to tackle high heating oil and fuel costs this winter. One of those options includes releasing oil from the nation's vast emergency stockpile of crude -- an extraordinary action rarely taken by the U.S. government >>> FULL TEXT

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Monday
September 11, 2000

Oil prices surge on skepticism

VIENNA, Austria (AP) - Oil futures surged to a new 10-year high Monday amid widespread skepticism about OPEC's plan to reduce prices by pumping an additional 800,000 barrels of crude daily. Within hours of OPEC's announcement Monday that it would boost its official output by 3 percent, the International Energy Agency warned the planned increase is unlikely to stabilize the volatile oil markets >>> FULL TEXT

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Iran sees key oil buyback deals signed in October

VIENNA, Sept 10 (Reuters) - Iranian Oil Minister Bijan Zanganeh said on Sunday that buyback deals for the Darkhovin and Chesmeh Kosh oilfields were likely to be signed next month. ``Darkhovin will probably go to ENI and Chesma Kosh will probably go to Cepsa ,'' the minister said, speaking ahead of speeches at the formal sitting of an OPEC ministerial conference >>> FULL TEXT

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Power station closed down by drought

TEHRAN, Sept 10 (AFP) - A major power station has been forced to close down because the river that feeds it has dried up due to the severe drought nationwide, the state IRNA news agency said Sunday. The station, at a dam on the Zayande-Rud river that runs through the central city of Isfahan, "can no longer operate because of the lack of water," a local official told IRNA >>> FULL TEXT

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