Aramco Out to Capture Iranian Oil Markets
November 9, 1998 - 0:0
TEHRAN The results of the investigations carried out reveal that Aramco of Saudi Arabia has been trying to capture the oil markets of the Islamic Republic of Iran, particularly in Pakistan and South Africa, an informed source told the TEHRAN TIMES here yesterday. The source, speaking on the condition of anonymity, added, Under the present conditions, oil prices are falling due to an oil glut and limited demand.
Therefore, it is natural that there should be competition among the oil exporters for capturing the oil markets. Referring to the Saudi efforts in this regard, he said that Saudi Arabia, drawing on its political relations with Pakistan and South Africa, is out to capture Iran's oil markets in those countries. Presently, Pakistan and South Africa import part of their needed oil from Iran. The source noted that the Iranian Foreign Minister Kamal Kharrazi, during his recent trip to Saudi Arabia, most probably objected to such efforts by Saudis. In conclusion, the source pointed out, Given the close cooperation between Iran and Saudi Arabia in OPEC, observers evaluate the Saudi's move as unfriendly.
Therefore, it is natural that there should be competition among the oil exporters for capturing the oil markets. Referring to the Saudi efforts in this regard, he said that Saudi Arabia, drawing on its political relations with Pakistan and South Africa, is out to capture Iran's oil markets in those countries. Presently, Pakistan and South Africa import part of their needed oil from Iran. The source noted that the Iranian Foreign Minister Kamal Kharrazi, during his recent trip to Saudi Arabia, most probably objected to such efforts by Saudis. In conclusion, the source pointed out, Given the close cooperation between Iran and Saudi Arabia in OPEC, observers evaluate the Saudi's move as unfriendly.