From: amir@zeus.franklin.edu (Amir Taghavi)
Subject: HEADLINE NEWS
Organization: Franklin University (Columbus, OH)
Date: Sat, 25 Jul 1992 01:35:23 GMT


     PROFILE NEWS

  1. PAKISTAN SIGNS HIGHWAY RESTORATION PACT SIGNED WITH UZBEKISTAN,
     AFGHANISTAN
  2. U.N. DIPLOMAT COMMITS SUICIDE IN PAKISTAN
  3. YUGOSLAVIA GAINS PARTIAL ADMITTANCE TO OLYMPICS
  4. DAYBOOK: HOUSE JUDICIARY COMMITTEE INTERNATIONAL LAW, IMMIGRATION AND
     REFUGEES
  5. IRAN RADIO, TV PLANS COOPERATION WITH TAJIKISTAN
  6. IRAN-CONTRA TRIAL OF FORMER TOP CIA OFFICIAL CLAIR GEORGE SET TO BEGIN
  7. THURSDAY'S FOREIGN EXCHANGE RATES
  8. SAUDI ARABIA UNDER OPEC'S SCRUTINITY FOR DIALOGUE WITH U.S. ON OIL PRICING

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Matched keyword: AFGHANISTAN...

=START=   XMT: 16:13 Thu Jul 23  EXP: 16:00 Sun Jul 26 

PAKISTAN SIGNS HIGHWAY RESTORATION PACT SIGNED WITH UZBEKISTAN, AFGHANISTAN 

(JULY 23) MIDDLE EAST NEWS NETWORK - Pakistan, Uzbekistan and the Islamic state
of Afghanistan have signed an agreement on cooperation in construction and
restoration of highways. The agreement was signed in Islamabad today by the
Pakistani minister of state for communications, Mr. Mohammad Azam Hoti, and
Uzbek minister for highways, Mr. (Rustam Yunisov), and the adviser to the
president of Afghanistan, Engineer (Ayyub), on behalf of their governments. The
agreement followed a series of rounds of talks among the delegations of the
three countries. It notes that the parties have realized the need for
development of transportation ties as well as cooperation in construction and
restoration of highways among the three countries. 

>From Radio Pakistan Network in English 



=END= 

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     PROFILE NEWS

  1. PAKISTAN SIGNS HIGHWAY RESTORATION PACT SIGNED WITH UZBEKISTAN,
     AFGHANISTAN
  2. U.N. DIPLOMAT COMMITS SUICIDE IN PAKISTAN
  3. YUGOSLAVIA GAINS PARTIAL ADMITTANCE TO OLYMPICS
  4. DAYBOOK: HOUSE JUDICIARY COMMITTEE INTERNATIONAL LAW, IMMIGRATION AND
     REFUGEES
  5. IRAN RADIO, TV PLANS COOPERATION WITH TAJIKISTAN
  6. IRAN-CONTRA TRIAL OF FORMER TOP CIA OFFICIAL CLAIR GEORGE SET TO BEGIN
  7. THURSDAY'S FOREIGN EXCHANGE RATES
  8. SAUDI ARABIA UNDER OPEC'S SCRUTINITY FOR DIALOGUE WITH U.S. ON OIL PRICING

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Matched keyword: AFGHANISTAN...

=START=   XMT: 17:04 Tue Jul 21  EXP: 17:00 Fri Jul 24 

U.N. DIPLOMAT COMMITS SUICIDE IN PAKISTAN 

ISLAMABAD, Pakistan (JULY 21) UPI - The United Nations confirmed Tuesday that
one of its diplomats, a U.S. national, committed suicide over the weekend at
the hotel where she was staying. 

Catherine Koza, 26, worked for the World Food Program in Kabul and was
transfered to Islamabad earlier this month, a U.N. spokesman said. 

She had worked in Islamabad before and came to the region from Geneva,
Switzerland, where she was attached to the U.N. humanitarian and economic
assistance program for Afghanistan. 

Although Koza died Sunday, local police did not discover her body until Monday 
the U.N. spokesman said. 

Police said Koza hanged herself with a bed sheet. Officials of the U. S.
Embassy in Islamabad said they had contacted Koza's parents in the United
States and were arranging to send her body home. 

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=END= 

     PROFILE NEWS

  1. PAKISTAN SIGNS HIGHWAY RESTORATION PACT SIGNED WITH UZBEKISTAN,
     AFGHANISTAN
  2. U.N. DIPLOMAT COMMITS SUICIDE IN PAKISTAN
  3. YUGOSLAVIA GAINS PARTIAL ADMITTANCE TO OLYMPICS
  4. DAYBOOK: HOUSE JUDICIARY COMMITTEE INTERNATIONAL LAW, IMMIGRATION AND
     REFUGEES
  5. IRAN RADIO, TV PLANS COOPERATION WITH TAJIKISTAN
  6. IRAN-CONTRA TRIAL OF FORMER TOP CIA OFFICIAL CLAIR GEORGE SET TO BEGIN
  7. THURSDAY'S FOREIGN EXCHANGE RATES
  8. SAUDI ARABIA UNDER OPEC'S SCRUTINITY FOR DIALOGUE WITH U.S. ON OIL PRICING

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Matched keyword: AFGHANISTAN...

=START=   XMT: 16:41 Thu Jul 23  EXP: 05:00 Fri Jul 24 

YUGOSLAVIA GAINS PARTIAL ADMITTANCE TO OLYMPICS 

BARCELONA, Spain (JULY 23) UPI - War torn Yugoslavia gained admittance to the
Olympic Games Thursday, but it was a hollow victory. 

Just two days before the official opening of the XXV Summer Games, the
International Olympic Committee announced that athletes from Serbia and
Montenegro would compete as individuals. However, they have been barred from
the opening and closing ceremonies, marking the first time in Olympic history
that athletes have been banned from those proud traditions. 

At the same time, Bosnia-Hercegovina was granted provisional recognition,
allowing its athletes to compete and march under its own flag. 

Macedonia, which has no official recognition, will take part under the same
conditions as the Serbs and Montenegrins, who are banned from all team events
and have to compete under the Olympic flag. 

The tricky negotiations linking Barcelona, Belgrade and New York means that all
six former Yugoslav republics will take part in the Games. 
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Slovenia and Croatia, whose declarations of independence in June 1991 triggered
the Yugoslav strife, have already been granted Olympic recognition. 

A total of the 172 countries were invited to take part in the Games originally
but 185 are now taking part. 

The latest declaration followed IOC recognition of Croatia, Slovenia,
Bosnia-Hercegovina, South Africa and Namibia. 

The only IOC-recognized countries not attending the Barcelona Games
areMadagascar, Somalia and Afghanistan. 

The team event ban cuts the Yugoslav contingent from 118 to 86, forcing 32
Yugoslavs, including the Olympic water polo champions, to stay at home. 

Czechoslovakia was named to replace Yugoslavia in the water polo competition,
Iceland and Norway were chosen as replacements in the men's and women's team
handball competition and Italy was selected as the replacement in women's
basketball. 

The Yugoslav National Olympic Committee, meeting in Belgrade Wednesday,
unanimously decided to send individual athletes to Barcelona but were
disappointed that the country had been barred from the team events. 

''Out of the two evils we have chosen a smaller one,'' said former
international water polo player Djordje Perisic, the Minister for Sports in the
Yugoslav federation of Serbia and Montenegro. 

''Our decision to participate in the Olympics only as individuals will meet
approval and disapproval among the people,'' Perisic said.  ''But in the
situation when we have no friends in the world, when we have only a wish to
stop the war and that the U.N. sanctions against Yugoslavia be revoked, we must
think of future generations of our sportspersons.'' 

The IOC ruling came after a decision by the UN Security Council Sanctions
Committee notifying the Spanish government July 21 that athletes from the
Federal Republic of Yugoslavia (Serbia and Montenegro) would be allowed to take
part in the Games as individuals. 

''We are very, very pleased with the outcome of this situation - we consider it
a victory for sport,'' IOC director general Francois Carrard said at the end of
the 99th IOC Session. 

''In a victory you never win battles without some losses. The most important
thing is that some athletes are participating. 

''The IOC will pursue unremittingly its action to safeguard athletes' interests
and ensure the universality of the Games,'' said IOC Director Francois Carrard.
''It will continue the struggle with the greatest energy against interference
by politics in sports. We do not forget the suffering from the atrocities in
this war.'' 

The official entry of athletes from Yugoslavia came one day before the start of
competition. There are four soccer matches scheduled for Friday - one day ahead
of the official opening ceremonies. Italy plays the United States at the Nou
Camp stadium in Barcelona and Poland plays Kuwait at Zaragoza in Pool A action.
In Pool B, Spain takes on Colombia at Valencia and Egypt goes against Qatar at
Sabadell. 



=END= 

     PROFILE NEWS

  1. PAKISTAN SIGNS HIGHWAY RESTORATION PACT SIGNED WITH UZBEKISTAN,
     AFGHANISTAN
  2. U.N. DIPLOMAT COMMITS SUICIDE IN PAKISTAN
  3. YUGOSLAVIA GAINS PARTIAL ADMITTANCE TO OLYMPICS
  4. DAYBOOK: HOUSE JUDICIARY COMMITTEE INTERNATIONAL LAW, IMMIGRATION AND
     REFUGEES
  5. IRAN RADIO, TV PLANS COOPERATION WITH TAJIKISTAN
  6. IRAN-CONTRA TRIAL OF FORMER TOP CIA OFFICIAL CLAIR GEORGE SET TO BEGIN
  7. THURSDAY'S FOREIGN EXCHANGE RATES
  8. SAUDI ARABIA UNDER OPEC'S SCRUTINITY FOR DIALOGUE WITH U.S. ON OIL PRICING

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Matched keyword: IMMIGRATION...

=START=   XMT: 05:05 Thu Jul 23  EXP: 05:00 Fri Jul 24 

DAYBOOK: HOUSE JUDICIARY COMMITTEE INTERNATIONAL LAW, IMMIGRATION AND REFUGEES 

(JULY 23) FNS - SUBJECT: Mark up of HR 5555, to provide for increased
preinspection 
                  at foreign airports, to make permanent the visa waiver 
                  pilot program, and to provide for expedited airport 
                  immigration processing 


        LOCATION: 2237 Rayburn House Office Building 
                  -- July 23 


         CONTACT: 202-225-5727 



=END= 

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     PROFILE NEWS

  1. PAKISTAN SIGNS HIGHWAY RESTORATION PACT SIGNED WITH UZBEKISTAN,
     AFGHANISTAN
  2. U.N. DIPLOMAT COMMITS SUICIDE IN PAKISTAN
  3. YUGOSLAVIA GAINS PARTIAL ADMITTANCE TO OLYMPICS
  4. DAYBOOK: HOUSE JUDICIARY COMMITTEE INTERNATIONAL LAW, IMMIGRATION AND
     REFUGEES
  5. IRAN RADIO, TV PLANS COOPERATION WITH TAJIKISTAN
  6. IRAN-CONTRA TRIAL OF FORMER TOP CIA OFFICIAL CLAIR GEORGE SET TO BEGIN
  7. THURSDAY'S FOREIGN EXCHANGE RATES
  8. SAUDI ARABIA UNDER OPEC'S SCRUTINITY FOR DIALOGUE WITH U.S. ON OIL PRICING

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Matched keyword: IRAN...

=START=   XMT: 16:20 Thu Jul 23  EXP: 16:00 Fri Jul 24 

IRAN RADIO, TV PLANS COOPERATION WITH TAJIKISTAN 

TEHRAN (JULY 23, 1992) MIDDLE EAST NEWS NETWORK - About 80 percent of Tajiks
are interested in the programmes screened by the Iranian television (Islamic
Republic of Iran Broadcasting - IRIB) especially news and cultural and arts
programmes, announced head of Tajik broadcast Mirbaba Mir-Rahim here today. 

Speaking to reporters Mir-Rahim said that IRIB's educational and other films
and serials as well as children's programmes were regularly watched by many
Tajiks. 

He said certain countries, like Uzbekistan, broadcast radio and television
programmes with the intent to interfere in the internal and political affairs
of Tajikistan. 

Mir-Rahim noted that 80 percent of Tajikistan's radio and television facilities
and equipment had to be either reconstructed or renewed for which, he said,
budget was needed, and that countries such as the U.S., Britain and Japan had
expressed readiness. 

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Since those countries, said he, aimed to capitalize politically in Tajikistan,
Dushanbe had not yet considered their offer. 

He expressed hope that his country would benefit from the Islamic republic's
help for reconstruction, and announced Tajik radio and television's readiness
to cooperate with IRIB in cultural, artistic and educational fields. 

Mir-Rahim proposed the unity of the Persian speaking nations like Iran,
Afghanistan, Pakistan and Tajikistan in a bid to offset the West's cultural
inroad. 

>From IRNA in English 



=END= 

     PROFILE NEWS

  1. PAKISTAN SIGNS HIGHWAY RESTORATION PACT SIGNED WITH UZBEKISTAN,
     AFGHANISTAN
  2. U.N. DIPLOMAT COMMITS SUICIDE IN PAKISTAN
  3. YUGOSLAVIA GAINS PARTIAL ADMITTANCE TO OLYMPICS
  4. DAYBOOK: HOUSE JUDICIARY COMMITTEE INTERNATIONAL LAW, IMMIGRATION AND
     REFUGEES
  5. IRAN RADIO, TV PLANS COOPERATION WITH TAJIKISTAN
  6. IRAN-CONTRA TRIAL OF FORMER TOP CIA OFFICIAL CLAIR GEORGE SET TO BEGIN
  7. THURSDAY'S FOREIGN EXCHANGE RATES
  8. SAUDI ARABIA UNDER OPEC'S SCRUTINITY FOR DIALOGUE WITH U.S. ON OIL PRICING

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Matched keyword: IRAN...

=START=   XMT: 08:23 Thu Jul 23  EXP: 08:00 Fri Jul 24 

IRAN-CONTRA TRIAL OF FORMER TOP CIA OFFICIAL CLAIR GEORGE SET TO BEGIN 

WASHINGTON (JULY 23) UPI - After months of pre-trial maneuvering, a federal
judge prepared Thursday to swear in a panel of 12 jurors and six alternates to
hear the government's case against Clair George, the former CIA deputy director
for operations charged with lying and obstructing congressional and grand jury
inquiries into the Iran-Contra scandal. 

The Iran-Contra affair, the worst scandal of the Reagan administration,
involved secret arms shipments to Iran in an effort to free U.S. hostages, with
the profits being funneled to the Nicaraguan Contra rebels when such aid was
banned by Congress. 

U.S. District Judge Royce Lamberth said Wednesday he would swear in the jurors
Thursday and then conclude closed-door hearings on George's request for
declassification of documents contained in two boxes of CIA files that
prosecutors discovered earlier this month. 

Lamberth said he expects opening arguments and testimony to begin Friday. 

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George was the No. 3 man at the CIA when the scandal was becoming public in
late 1986, behind Robert Gates and Director William Casey. Gates, now the
agency's director, is one of 39 potential trial witnesses named in a
questionnaire given prospective jurors. 

George is charged with nine counts of perjury, false statements and obstruction
of congressional and grand jury inquiries into the Iran- Contra affair. 

One of the charges against George alleges he directed Alan D. Fiers Jr., a
subordinate, to withhold information from the Senate Foreign Relations
Committee, which was probing the downing of a Contra resupply plane over
Nicaragua. 

Fiers, who pleaded guilty in July 1991 to withholding information from Congress
about arming the Contras, is also expected to be a key witness in George's
trial, which is expected to last four to six weeks. 

Others convicted in the scandal include former national security adviser Robert
McFarlane, who pleaded guilty in 1988, to four misdemeanor counts, admitting he
withheld information from Congress; and Maj. Gen. Richard Secord, a former Air
Force officer in private business, who admitted to lying to congressional
investigators. 

Retired Marine Lt. Col. Oliver North, a former National Security Council staff
member who was at the heart of the scandal, was convicted in 1989 of
obstructing Congress and other criminal charges, but his convictions were later
overturned because they stemmed from immunized testimony before Congress. 

Convictions against former national security adviser John Poindexter for
conspiring to deceive Congress also were overturned on the same grounds. 

Last month, former Defense Secretary Caspar Weinberger was indicted on five
felony counts of obstruction of justice, perjury and lying to Congress in
connection with the Iran-Contra scandal. 



=END= 

     PROFILE NEWS

  1. PAKISTAN SIGNS HIGHWAY RESTORATION PACT SIGNED WITH UZBEKISTAN,
     AFGHANISTAN
  2. U.N. DIPLOMAT COMMITS SUICIDE IN PAKISTAN
  3. YUGOSLAVIA GAINS PARTIAL ADMITTANCE TO OLYMPICS
  4. DAYBOOK: HOUSE JUDICIARY COMMITTEE INTERNATIONAL LAW, IMMIGRATION AND
     REFUGEES
  5. IRAN RADIO, TV PLANS COOPERATION WITH TAJIKISTAN
  6. IRAN-CONTRA TRIAL OF FORMER TOP CIA OFFICIAL CLAIR GEORGE SET TO BEGIN
  7. THURSDAY'S FOREIGN EXCHANGE RATES
  8. SAUDI ARABIA UNDER OPEC'S SCRUTINITY FOR DIALOGUE WITH U.S. ON OIL PRICING

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Matched keyword: IRAN...

=START=   XMT: 16:05 Thu Jul 23  EXP: 16:00 Fri Jul 24 

THURSDAY'S FOREIGN EXCHANGE RATES 

NEW YORK (JULY 23) UPI - Foreign Exchange interbank buyer rates and foreign
currency equivalents, provided by Bloomberg Financial Markets and other
sources. Retail transactions provide fewer units of foreign currency per
dollar. 


                         U.S.$           currency 
                       Equivalent      per U.S.$ 
                      Thu     Wed     Thu     Wed 
 Argntn peso        1.0101  1.0101  0.9900  0.9900 
 Australia dlr       .7468   .7484  1.3390  1.3362 
 Austria schill      .0954   .0952   10.48   10.50 
 Belgium franc-c     .0328   .0326   30.52   30.71 
 Brazil cruzado    .000263 .000265 3805.00 3772.00 
 Britain pound      1.9135  1.9065   .5226   .5245 
 Britain 1-mo       1.9027  1.8956   .5256   .5275 
 Britain 3-mo       1.8816  1.8737   .5315   .5337 
 Britain 6-mo       1.8519  1.8443   .5400   .5422 
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 Canada dollar       .8410   .8408  1.1891  1.1893 
 Canada 1-mo         .8393   .8392  1.1914  1.1916 
 Canada 3-mo         .8368   .8367  1.1950  1.1952 
 Canada 6-mo         .8340   .8335  1.1990  1.1997 
 Chile peso-f      .002849 .002849  350.98  350.98 
 China yuan          .1828   .1828  5.4700  5.4700 
 Colombia peso     .001722 .001722  580.64  580.64 
 Denmark krne        .1750   .1744  5.7155  5.7350 
 Ecudr sucre-z     .000693 .000693 1443.00 1443.00 
 Egypt pound         .3002   .3002  3.3310  3.3310 
 Finlnd mrkka        .2458   .2448  4.0690  4.0850 
 France franc        .1995   .1993  5.0130  5.0175 
 France 1-mo         .1983   .1981  5.0428  5.0475 
 France 3-mo         .1960   .1958  5.1008  5.1072 
 France 6-mo         .1952   .1950  5.1235  5.1282 
 Greece drach      .005470 .005457  182.80  183.25 
 Hollnd guildr       .5971   .5965  1.6747  1.6765 
 HongKong dlr        .1293   .1292  7.7350  7.7370 
 India rupee         .0352   .0352   28.42   28.42 
 Indo'sa rupia     .000494 .000494 2025.11 2025.11 
 Iran rial           .0142   .0142   70.30   70.30 
 Iraq dinar         2.6546  2.6546  0.3767  0.3767 
 Ireland punt       1.7930  1.7880  0.5577  0.5593 
 Israel shekel       .4164   .4164  2.4017  2.4017 
 Italy lira        .000888 .000887 1126.00 1128.00 
 Japan yen         .007886 .007996  126.80  126.65 
 Japan 1-mo        .007879 .007889  126.92  126.76 
 Japan 3-mo        .007870 .007879  127.06  126.92 
 Japan 6-mo        .007868 .007876  127.10  126.96 
 Jordan dinar       1.5368  1.4918  0.6507  0.6675 
 Kuwait dinar       3.4341  3.4423  0.2912  0.2905 
 Lebanon pnd       .000533 .000533 1875.00 1875.00 
 Mexico peso-z     .000321 .000321 3117.00 3117.00 
 N.Zealand dlr       .5495   .5490  1.8198  1.8215 
 Norway krne         .1714   .1706  5.8350  5.8625 
 Pakistn rupee       .0397   .0397   25.18   25.18 
 Peru (new sol)     0.8333  0.8403  1.2000  1.1900 
 P'pnes peso-z       .0409   .0409   24.45   24.45 
 Portugl escud     .007905 .007855  126.50  127.30 
 Saudi riyal         .2665   .2665  3.7520  3.7520 
 Singapore dlr       .6191   .6190  1.6152  1.6155 
 S.Africa rand       .3617   .3621  2.7650  2.7620 
 S.Korea won       .001267 .001267  789.40  789.40 
 Spain peseta      .010571 .010482   94.60   95.40 
 Sweden krona        .1856   .1846  5.3890  5.4175 
 Switzrl franc       .7593   .7590  1.3170  1.3175 
 Switzrl 1-mo        .7557   .7554  1.3232  1.3238 
 Swirzrl 3-mo        .7492   .7385  1.3348  1.3360 
 Switzrl 6-mo        .7399   .7392  1.3515  1.3528 
 Taiwan dollar       .0407   .0408   24.58   24.53 
 Turkey lira       .000145 .000145 6913.00 6913.00 
 UAE dirham          .2723   .2723  3.6725  3.6725 
 Urug'y peso-z     .000312 .000312 3185.01 3185.01 
 Venez bolivr-z      .0151   .0151   66.09   66.09 
 Germany mark        .6736   .6729  1.4845  1.4860 
 Germany 1-mo        .6700   .6693  1.4926  1.4940 
 Germany 3-mo        .6630   .6622  1.5083  1.5102 
 Germany 6-mo        .6530   .6524  1.5315  1.5328 
 Yugosl dinar      .003158 .003158  316.62  316.62 


 c-Commercial; f-Financial; z-Floating; x-N. Y. Money Market. 
 Interbank Buyers Rates 
 Source: Bloomberg Financial Markets and other sources. 



=END= 

     PROFILE NEWS

  1. PAKISTAN SIGNS HIGHWAY RESTORATION PACT SIGNED WITH UZBEKISTAN,
     AFGHANISTAN
  2. U.N. DIPLOMAT COMMITS SUICIDE IN PAKISTAN
  3. YUGOSLAVIA GAINS PARTIAL ADMITTANCE TO OLYMPICS
  4. DAYBOOK: HOUSE JUDICIARY COMMITTEE INTERNATIONAL LAW, IMMIGRATION AND
     REFUGEES
  5. IRAN RADIO, TV PLANS COOPERATION WITH TAJIKISTAN
  6. IRAN-CONTRA TRIAL OF FORMER TOP CIA OFFICIAL CLAIR GEORGE SET TO BEGIN
  7. THURSDAY'S FOREIGN EXCHANGE RATES
  8. SAUDI ARABIA UNDER OPEC'S SCRUTINITY FOR DIALOGUE WITH U.S. ON OIL PRICING

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Matched keyword: IRAN...

=START=   XMT: 18:09 Thu Jul 23  EXP: 18:00 Fri Jul 24 

SAUDI ARABIA UNDER OPEC'S SCRUTINITY FOR DIALOGUE WITH U.S. ON OIL PRICING 

EDINBURGH (JULY 23) IPS - The disclosure that Saudi Arabia and the United
States have engaged in high level dialogue on oil pricing policy will put the
Saudis under intense pressure from colleagues within the Organization of
Petroleum Exporting Countries, oil analysts believe. 

Recent Saudi support for a strengthening in oil prices will be questioned, and
greater attention paid to the question of strains in the U.S.-Saudi
relationship. 

The kingdom will come under scrutiny not just from the  traditional hawk-eyed
Iraq, Iran and Libya, but from more moderate  members, such as Venezuela and
Nigeria, which lack Riyadh's  privileged position with Washington, although
they are scarcely  less important to U.S. energy policy. 

Among the Kingdom's most vociferous critics is Iraq, which believes OPEC is
implementing a low-oil-price agenda drawn up in Washington and forced through
the oil producers group by Riyadh. 

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At the end of the last OPEC conference, Iraqi Oil Minister Osama al-Hithi
angrily declared that the meeting's main pre-occupation "was to reach an
agreement on the (oil production) ceiling that was acceptable to Saudi Arabia."

Al-Hithi continued: "Saudi Arabia is persisting in pursuing the same stance
aimed at reducing prices. This is Saudi Arabia's policy, which exactly conforms
to what the U.S. wants." 

At an OPEC meeting last May, Saudi Arabia did secure its prime goals. It stated
it would continue to produce at eight million barrels a day, slightly above the
distribution agreement of 7.887 million barrels per day (MB/D) agreed in
February, that was supposedly rolled over when OPEC met in Vienna. 

The kingdom also sent strong signals to the market that it  favored OPEC's $21
a barrel reference price. Previously, it was assumed to be still favoring a
price level of around $18 a barrel -- a level backed steadily by Riyadh ever
since the then U.S. Vice-President George Bush discussed oil policy with King
Fahd during a visit to the kingdom in April 1986. 

At the time, the Saudi switch in support of $12 a barrel was seen as a direct
response to the threatened introduction in the European Community of a carbon
tax of up to $10 per barrel of oil -- a move which would have cut the incomes
of oil exporters. 

Little attention was paid to the fact that a successful retention of oil prices
at the $21 a barrel level for the rest of the year -- which now looks likely --
would run counter to the  interests of President Bush and his re-election
campaign, since it  would put further pressure on U.S. consumers struggling to
edge  out of recession. 

Although Saudi Arabia now wields unprecedented influence within OPEC in view of
its one-third share in all OPEC production, this week's Washington disclosures
will make it much harder for it to secure acceptance of all its goals in future
OPEC deliberations. 

"I think it will make it extremely difficult for the Saudis to act in any way
that would cause an OPEC member to say "Are you still doing this"," U.S.
analyst Melvyn Conant said today. 

Thus the kingdom will come under intense pressure when OPEC ministers next meet
on September 16. 

To date, Saudi Arabia has sought to argue that the market will bear OPEC
production of more than 24.2 MB/D, whereas the OPEC Secretariat, and OPEC's own
panel of experts -- the Economic Commission Board -- argue that the call on
OPEC crude will be no more than 23.7 MB/D. 

Saudi Arabia based its calculations on an assumption that both oil demand and
the normal seasonal stock build up would be higher than expected. 

But Iran and Libya believe world demand will be at least half a million barrels
per day below even OPEC estimates, while non-OPEC supplies will rise. They thus
argue that the world's requirement for OPEC crude this quarter will be at least
1.5 MB/D below the Saudi estimates. 

And since both the Saudi and OPEC estimates were based on a world climbing
steadily out of recession, whereas the current economic climate indicates a
further prolonged delay in economic recovery, the calculations of Iran and
Libya look like being closer to the mark than those of Riyadh. 

By the time the ministers meet, they will have firm figures on which to base
proposals for fourth quarter output. But if demand remains low, the kingdom
will have to abandon its cherished eight million barrels per day output level. 

Indeed, the kingdom's maintenance of this output level is now likely to be
ranked in OPEC mythology alongside its defense of $18 a barrel crude. 


Whether or not the kingdom has ever reached a even a tacit understanding with
Washington on such a figure, it will inevitably be assumed to have done so
since such an output level suits the interests of the world's biggest oil
importer just as much as its suits the interests of the world's biggest
exporter. 

Citizens Action, the Washington-based group which secured  evidence of the
long-suspected U.S.-Saudi rapport on oil issues,  secured documentation that
showed the Saudis often informed  Washington of actions they proposed to take
at OPEC meetings  before they announced them to their colleagues within OPEC. 

During the run-up to September 16, the oil world will pay much more attention
than usual to meetings between U.S. and Saudi officials -- wherever they may
meet and at whatever level they might be held. 



=END= 

     PROFILE NEWS

  1. PAKISTAN SIGNS HIGHWAY RESTORATION PACT SIGNED WITH UZBEKISTAN,
     AFGHANISTAN
  2. U.N. DIPLOMAT COMMITS SUICIDE IN PAKISTAN
  3. YUGOSLAVIA GAINS PARTIAL ADMITTANCE TO OLYMPICS
  4. DAYBOOK: HOUSE JUDICIARY COMMITTEE INTERNATIONAL LAW, IMMIGRATION AND
     REFUGEES
  5. IRAN RADIO, TV PLANS COOPERATION WITH TAJIKISTAN
  6. IRAN-CONTRA TRIAL OF FORMER TOP CIA OFFICIAL CLAIR GEORGE SET TO BEGIN
  7. THURSDAY'S FOREIGN EXCHANGE RATES
  8. SAUDI ARABIA UNDER OPEC'S SCRUTINITY FOR DIALOGUE WITH U.S. ON OIL PRICING

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         NewsGrid Headline News         
         Thursday, July 23 1992         
                23:33CDT                



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