Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Heretic who wrote (45409)	5/25/1999 12:40:00 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

That was a good article. Analyst got slammed, as well he deserved.

To: Heretic who wrote (45409)	5/25/1999 2:09:00 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 95453

caspian progress waiting for u.s.-iran rapprochement london, may 25, irna - the international institute for strategic studies (iiss) does not see any huge new investments to develop oil in central asia in the current climate of relatively low crude prices. it suggests one of the factors in the equation was that international oil companies were waiting for a rapprochement between the u.s. and iran that could open up a more viable outlet for caspian exports. an eternal question surrounding oil development is the dilemma over export routes from the landlocked states with the u.s. playing politics by pressing for a pipeline from baku to the turkish port of ceyhan at the expense of iran. in its latest 'strategic comments,' the london-based institute contrasted the u.s. committed to the ceyhan route for "essentially geopolitical reasons" with the iranian route being "among the cheapest from azerbaijan." the london-based institute says in its latest monthly 'strategic comments.' it also said oil companies regard iran as a "more secure potential route than ceyhan, which would cross or skirt three trouble spots" - the unresolved nagorno karabakh, the kurdish rebellion in south-east turkey and the georgia-abkhazia conflict. while the u.s. administration exerts political pressure on american firms and tries to reduce the cost of the controversial pipeline, the london-based institute said that companies "do not feel any need to hurry" in the current adverse economic climate. it said one of the key reasons why international companies were trying to delay any agreement on ceyhan for as long as possible was because an eventual rapprochement between the u.s. and iran would render the turkish route "commercially pointless." strategic comments considered other commercial aspects, like the sparseness of oil discoveries in the region that call into question not only the ceyhan route but the wisdom of constructing multiple pipelines to carry millions of barrels of oil. if regional production only amounts to 3 million barrels per day (bpd) by 2010, it said oil exports were unlikely to exceed 2 m bpd, out of which up to 1.5 m could be absorbed by neighbouring countries without the need for major pipeline construction. "depending on the remainder, turkey may find it hard to insist that an expensive pipeline needs to bypass the bosporus straits - no matter how many u.s. government officials back up ankara's assertion that no more tankers can safely navigate the waterway," iiss said. hc/rr end ::irna 25/05/99 15:44