Business
Nov 16-20, 1998 / Aban 25-29, 1377
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* Russian atomic energy minister to visit Iran
* Silver lining for OPEC in lengthy low oil price
* Oil companies should be non-political - Total
* Iran resumes Shi'ite Moslem pilgrim trips to Iraq
Previous
* U.S. oil firms again frozen out of big Iran business
* Iran expects oil prices to remain low
* Turkmen-Turkey gas line may cost $2.5 bln - Enron
* Cash-strapped Iran facing difficulty in repaying foreign
debt
* Iran welcomes "change" in U.S. oil policy
* Iran must boost oil output capacity, official says
* Saudi to host first Iranian trade exhibition
* Strike at troubled textile mill
* Year-2000 computer bug gets attention
* Top body moves to guarantee investments
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Updated November 20, 1998
* To send money to Iran, the rate is 685-705 tomans per
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Friday,
Nov 20, 1998
* Russian atomic energy minister to visit Iran
MOSCOW, Nov 20 (Reuters) - Russia's Atomic Energy Minister Yevgeni Adamov
will go to Iran on Saturday for a visit certain to be viewed askance by
the United States which believes Tehran is trying to acquire nuclear weapons.
A ministry spokesman said Adamov would visit Iran from November 21-24.
He gave no further details but Russia's RIA news agency said he was expected
to visit a nuclear power plant being built with Russian aid at Bushehr
on the Gulf coast... FULL
TEXT
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* Silver lining for OPEC in lengthy low oil price
LONDON, Nov 20 (Reuters) - For OPEC the prospect is alarming, but more
of this year's crippling price pain may be the oil cartel's best long-term
hope of reasserting its grip over world petroleum markets. Analysts say
a bout of weak prices will at least hasten foreign investment back into
the group's huge low-cost reserves and undermine the costlier oil output
sources that have drained its market share. ``There is a silver lining
to low prices for OPEC,'' said Mehdi Varzi of Dresdner Kleinwort Benson
bank... FULL
TEXT
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* Oil companies should be non-political - Total
London, Nov. 20, IRNA - oil companies should have a strong consistent
ethic of respect for the people and host governments in which they operate,
says the president of total middle east, christope de margerie. addressing
fellow executives at the annual oil and money conference in london this
week, the french divisional head offered a whole series of advice for
oil companies wishing to work in the persian gulf region... FULL TEXT
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* Iran resumes Shi'ite Moslem pilgrim trips to Iraq
TEHRAN, Nov 20 (Reuters) - Predominantly Shi'ite Moslem Iran has given
its nationals the all-clear to visit sacred shrines in neighbouring Iraq
after a cooling-off in the Iraqi crisis, the official news agency IRNA
reported on Friday. It quoted Behrouz Karami, governor of the Iranian
border town of Qasr-e Shirin, as saying trips resumed on Thursday after
a one-week suspension due to safety concerns over Iraq's standoff with
the United Nations... FULL
TEXT
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Thursday
Nov 19, 1998
* U.S. oil firms again frozen out of big Iran business
WASHINGTON, Nov 19 (Reuters) - American oil companies will again have
to sit on the sidelines while foreign competitors bid for Iranian business
this month, locked out by unilateral sanctions imposed by the U.S. government.
Though American companies need not apply, Iran has set a Nov. 30 deadline
for the rest of the world to bid on 29 oil and natural gas projects worth
several billion dollars... FULL
TEXT
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* Iran expects oil prices to remain low
TEHRAN, Nov 19 (AFP) -Iran, the world's second largest oil exporter,
does not expect a significant rise in sagging crude prices in the near
future, a senior oil official said Thursday. The National Iranian Oil Company's
Hojattollah Ghanimifard told reporters that with a fall in production costs
of a barrel of oil from 12 dollars in the 1970s to 4.5 dollars now, Iran
and other traditional oil producers cannot expect a permanent "economic
benefits" from oil sales ... FULL
TEXT
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* Turkmen-Turkey gas line may cost $2.5 bln - Enron
ASHGABAT, Nov 19 (Reuters) - A natural gas pipeline from Turkmenistan
to Turkey across the Caspian Sea would cost around $2.5 billion to build,
according to a pre-feasibility study carried out by U.S. power giant Enron.
``The study, scheduled to be finalised in early 1999, shows encouraging
initial results,'' Enron spokeswoman Joan Wasylik said in a statement received
late on Wednesday ... FULL
TEXT
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Wednesday
Nov 18, 1998
* Cash-strapped Iran facing difficulty in repaying foreign debt
TEHRAN, Nov 18 (AFP) - The severe recession in Iran, which has been
exacerbated by rock-bottom oil prices, has left both the public and private
sectors struggling to pay off some 11 billion dollars in foreign debt.
Bankers are seeing a sharp rise in debt defaults and foreign firms in Tehran
have been deluged with requests for delays in loan repayments... FULL TEXT
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* Iran welcomes "change" in U.S. oil policy
London, Nov. 19, IRNA - iran's deputy oil minister for international
affairs mehdi husseini wednesday welcomed u.s energy secretary bill richrdson's
commitment for the free flow of oil across international borders as a positive
signal. "if true, it represents a change in policy," he said.
iran is "happy" to hear that the u.s. supports the non-interruption
of oil supplies, devoid from all political impediments, he told an international
oil confrence in london... FULL
TEXT
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* Iran must boost oil output capacity, official says
TEHRAN, Nov 18 (Reuters) - Iran must boost its crude production capacity
if it hopes to attract foreign investment in its oil and gas industry,
a senior Iranian oil official said in remarks published on Wednesday. ``In
future oil producing countries will possibly be forced to ease off conditions
for foreign investment, therefore Iran must do its utmost to attract investments
by increasing its production capacity,'' the Arya newspaper quoted Hossein
Kazempour Ardebili, an adviser to the oil ministry, as saying... FULL
TEXT
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* Saudi to host first Iranian trade exhibition
RIYADH, Nov 18 (Reuters) - Saudi Arabia will host an Iranian trade fair
next week, a move seen by diplomats as another sign of a thaw in relations
between the two Gulf states. ``More than 150 Iranian companies and exhibitors
from various sectors will participate in the Iranian fair in Riyadh,''
Iran's ambassador to Saudi Arabia, Mohammad Reza Nouri, told Reuters ...
FULL
TEXT
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Tuesday
November 17, 1998
* Strikers lock out management at troubled textile mill
TEHRAN, Nov 16 (AFP) -Workers at a troubled textile mill in northern
Iran locked out the firm's director and other managers after roughing them
up on Monday, strikers told AFP. Some 2,500 staff are on strike at the
mill in Qaem Shahar (formerly known as Shahi), in the Caspian Sea province
of Mazandaran. The strike was called on Sunday to protest against nonpayment
of wages and alleged mismanagement of the mill ... FULL
TEXT
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* Year-2000 computer bug gets attention
Tehran, (HAMSHAHRI) - Iran's highest technology body has called on a
research firm to look into potential problems that may arise from the year-2000
computer bug... FULL
TEXT IN PERSIAN
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Monday
November 16, 1998
* Top body moves to guarantee investments
TEHRAN, Nov 15 (Reuters) - A powerful Iranian state body which advises
the supreme leader has adopted measures to guarantee investments in the
country, Iranian newspapers reported on Sunday. The Expediency Council,
chaired by former President Akbar Hashemi Rafsanjani, considered the the
requirements of economic sectors and ways to deal with risks to capital
and property, Iran Daily newspaper said ... FULL
TEXT
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