Sunday, January 02, 2005

Iran striving to rank first in ethylene production

Iran striving to rank first in ethylene production: "Iran striving to rank first in ethylene production
TEHRAN, Jan. 2 (MNA) – Iran plans to be number one in producing ethylene in the world – reaching 12 million tons output within the next 10 years – by allocating 17.5 billion dollars in investment for development of petrochemical projects in the Fourth Five-Year Development Plan (2005-2010).
The figure stood around 12.5 billion dollars for the first to third development plans (1990-2005) in total.

Out of the 25 projects under implementation, the National Petrochemical Company (NPC) have completed 17 and would finish the rest soon, said Hassan Sadat, manager of plans in the NPC.

NPC plans to have an output of 25.6 million tons capacity by March 2010 jumping up from 7.3 million tons in 1999, he added.

The investment in the sector is forecast to increase by 40 percent in the fourth plan.

Sadat said that the output of polymers would reach 10 million tons within the next 10 years. The production of chemical fertilizers, methanol, and aromatic materials would increase to 8 million tons each. NPC has estimated that the country earns some 20 billion dollars from export of petrochemicals only by the date.

At present, nearly 52,000 employees work in petrochemical sector that enjoys modern technologies such as ABS, PET – PAT, engineering polymers, isocyanides, DME, and acetic acid."

Nationalization of Iran’s oil and triangle of U.S., Britain, and Cartel

Nationalization of Iran�s oil and triangle of U.S., Britain, and Cartel: "Nationalization of Iran’s oil and triangle of U.S., Britain, and Cartel
TEHRAN, Jan. 1 (MNA) -- This article aims to justify why the United States of America, Italy and a number of Western states as well as several international oil companies were opposing the nationalization of oil industry in Iran, taking a look at general situation of oil industry worldwide.
While the oil industry was about to be nationalized, over half (51 percent) of the oil output in the Persian Gulf was owned by the British Oil Company only. The other half of the output was exploited in favor of other foreign companies such as New Jersey Standard Oil Off Co. (Saudi Arabia, Iraq, and Qatar), Vacuum Socony Co. (Saudi Arabia, Iraq, and Qatar), California Standard Oil Off Co., (Saudi Arabia and Bahrain), Gulf Co. (Kuwait), Royal Dutch Shell Co. (Iraq and Qatar), France Oil Co. (Iraq and Qatar), Texas Co. (Saudi Arabia and Bahrain).

So the entire interests of oil sector in the Persian Gulf went to the eight so-called international oil cartel companies only which had come to an agreement in 1928 to act coordinately in exploitation and sales of oil in the global market in an attempt to keep the supply and demand balanced and in favor of their own interests.

Cartel members used to monopolize all the oil refineries located in the Persian Gulf region and the sale of oil in the Middle East and even the whole globe with an exception of East Block.

When oil industry was nationalized, Iran was the biggest producer in the Middle East and the fourth top producer in the world after U.S., Venezuela, and the Soviet Union. Iran used to produce one third of the entire oil produced in the Middle East – 32 million tons of the total 90 million tons. More importantly, Iran held the hugest oil refinery worldwide that refined some 20 million tons of oil annually. The country provided 90 percent of the entire crude oil, 40 percent of kerosene, and 100 percent of gasoline required in the Western Europe at that time.

Early in 1951, a report released by CIA underlining that the economy of the Western Europe especially Britain that holds the majority of Iran’s oil would be seriously damaged if Abadan refinery come out of control of the Europe. The report said that Western Europe should pay 700 million dollars per annum extra if it loses Iran’s oil. So Britain was serious to stop nationalization process of oil industry in Iran.

Meanwhile, international oil companies (including the so-called sister American oil companies of New Jersey Standard Oil Off, Vacuum Socony, California Standard Oil Off, Gulf, and Texas) that were based in the U.S. disagreed with nationalization of Iran’s oil.

So, the companies force the American and British government to bring Iran’s government under pressure by imposing sanctions on oil industry in the country.

British media started a propaganda campaign against Iran condemning it of stealing natural resources that is not considered national.

In the meantime, the U.S. government united with Britain since Iran was a strategic place for the U.S. over the cold war.

In the past, it was easier for the superpowers to take control of the energy resources. Today it is not. It costs so high to take control of these resources – take Iraq as an example.

Middle East has always been a troubled area, because of its vast oil and gas reserves. In the world tomorrow the powerful nations will be those who possess energy. This is why the United States and its allies have come to the region like an octopus to exercise far-reaching control. The Middle East countries should think twice before signing any energy contracts with them."

Police seize 20 tons of narcotics From US Controlled Territory

IranMania News: "Police seize 20 tons of narcotics in east of Iran

Sunday, January 02, 2005 - ©2004

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LONDON, Jan 2 (IranMania) - Local Police personnel nabbed 20 tons of illicit drugs in east of Iran since the beginning of the Iranian calendar year of 1383 (started March 20, 2004), a local police official said on Saturday.

The seized drugs consisted of 15 tons of opium, 2.5 tons of hashish and 2.5 tons of morphine, Hossein Mahmoudi said. He added that during the same period, police arrested 1,054 drug-traffickers in several anti-drug operations. Police also confiscated 100 weapons and some ammunition in this connection.

Meanwhile, police seized seven tons of opium and one ton of heroin in the southeastern province of Sistan and Baluchestan. Iran is credited with intercepting 80% of the opium and 90% of the morphine seized worldwide.

However, despite its unceasing anti-drug efforts, Iran has remained a key route for southwest Asian drugs on their way to lucrative markets in Europe and Persian Gulf countries.

Domestic narcotics consumption continues to be a persistent problem with at least 2 mln drugs addicts in the country."

Commerce Minister Mohammad Shariatmadari on inflation

IranMania News: "Reducing banking rates ups economic vibrancy

Sunday, January 02, 2005 - ©2004
LONDON, Jan 2 (IranMania) - An MP from Tehran said that with reducing banking interest and profit rates can spur growth in the economy.

Mohammad Koshchehreh, also the Deputy Majlis Economic Committee Chairman, said that the level at which growth can be created depends on the capabilities of the monetary policy, banking management and prudently using the resources at their disposal. On a proposed bill for `reducing the double digit banking profit rates`

put fort by the Majlis` Research Center, he told IRNA that although economic stability and controlling inflation are well-known goals, "but the tools to attain them changes depending on prevailing conditions."

"Harnessing inflation is generally among the primary goals of governments at any given time," he added. To reduce unemployment, Iran, with a 70 million-strong market should have a high level of production of goods. "The production levels have not kept pace commensurate with the potentials of such a vast market," he added.

"Obstacles have prevented realization of the potentials of the market leading to adverse effects on the employment front." Another problem the economy lies in shortage of `liquidity`.

To increase production need financial, monetary and credit sources, he added. Although almost all experts agree that interest rates are among the crucial determinants of economic vibrancy, the question remains on wisdom of lowering interest rates, when in the prevailing conditions, the rates in the non-official markets are higher than the official ones, the MP underlined.

Commerce Minister Mohammad Shariatmadari said here Monday that one of the most important levers to ease and curb inflation in Iran is to control liquidity. Talking to IRNA at the end of his one-day tour of southern Iranian cities, Shariatmadari said if economic projects and programs are targeted at the goal, one can be hopeful of lowering the rate of inflation in future.

Inflation rate in Iran stands at 13.8%, well below the 16.7% target set by the Third Five-Year Economic Development Plan`s (2000-05) law. Iran`s economy is state-run in nature, which is mainly the core of inflation in the country.

Policies of the state have been oriented towards privatization and downsizing government through a series of contraction economic mechanisms. Some experts believe the strategies to cut government expenditures have not been fruitful and on the contrary the state cost have been on the increase.

Meanwhile, in a sign of improved performance by the Iranian economy, the British rating agency `Fitch` in December lowered the risk rating on Iran long-term foreign obligations, government`s short-term loans and credit ceilings from B+ to BB- in a report released last week. Central Bank of Iran (CBI) said the change in rating means that the Fitch has lowered by one notch its credit risk assessment on Iran."