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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Tomas who wrote (1483)2/9/2000 8:59:00 AM
From: Tomas  Read Replies (2) of 2742
 
Conoco cautiously optimistic on Libya, Iran ties

HOUSTON, Feb 8 (Reuters) - Conoco Inc CEO Archie Dunham said on Tuesday he was cautiously optimistic that under a new president, U.S. oil companies would be able to return to Libya and Iran, both now off limits because of U.S. sanctions.

Dunham said he believed a ``window of opportunity' would open when a new president takes office next year, making it possible for the new president to initiate changes, if he so wanted, that would allow U.S. firms to return to both countries.

Dunham, who heads the fifth largest U.S. oil company, was speaking to reporters before addressing the Cambridge Energy Research Associates (CERA) conference in Houston.

He has been a persistent critic of unilateral U.S. sanctions against countries such as Libya and Iran, contending they have failed to promote positive political changes while putting U.S. companies at a disadvantage to their foreign competitors.

Dunham said he believed there was growing support for his position among foreign policy experts.

``I'm cautiously optimistic that we're making progress on unilateral sanctions in both Libya and Iran,' he said.

Dunham said he believed the upcoming trial of two Libyan suspects in the bombing of a U.S. airliner and upcoming elections in Iran could help pave the way to better relations between the United States and both countries.

Conoco wants to grow its business in the Middle East ``in a real big way', he added.

biz.yahoo.com
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