Iran official says crude price could reach $100/bbl

Iran official says crude price could reach $100/bbl

New Delhi (Platts)--4Aug2006

A senior Iranian official Friday said global crude prices could jump to
$100/bbl. The prices could move up due to the expected rise in winter demand
and geopolitical problems, Iran's Deputy Oil Minister Mohammad Hadi
Nejad-Hosseinian told reporters.
The oil minister was in New Delhi to discuss the construction of a US
$7-bil natural gas pipeline from Iran to India via Pakistan.
Top oil officials from the three countries attended the two-day Joint
working Group meeting in New Delhi. The three nations failed to reach an
agreement on the gas price with Iran reportedly seeking a gas price of around
US $8/MMBtu. India and Pakistan made a counter-offer of $4.25/MMBtu for the
gas.
The JWG was set up to work out the technical and commercial details of the
2,775-km natural gas pipeline, 750-km of which would pass through Pakistan.
The proposed pipeline capacity is expected to be around 150-mil cu m of
gas/daily with India buying nearly two-third of the gas and Pakistan remaining
one-third. The gas would originate from the Iranian port city of
Assalyueh--the landfall point of gas produced in South Pars fields.

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