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IRAN AND VENEZUELA EAGER AGREE ON EST. OF COMMITTEE FOR OIL JV INVESTIGATION
Info-Prod Research (Middle East), February, 2004
According to "Tehran Times", Iranian and Venezuelan ministers of oil have agreed on formation of a technical committee to investigate joint venture deals in the oil industry. Bijan Namdar Zanganeh and Rafael Ramirez also agreed that it was too early to talk about any reduction in the oil production by the Organization of Petroleum Exporting Countries (OPEC).
The duo gave the nod for formation of an energy committee to identify grounds for oil resources development projects in the future. During the meeting, the two ministers reviewed the latest developments in the oil market as well as bilateral cooperation within the framework of the organization. Citing devaluation of dollar against other currencies, Zanganeh and Ramirez said they agreed with the OPEC prices to stand...
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