Word: aqazadeh
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...Khark 5, en route from the Persian Gulf, had been steaming toward Rotterdam when the blast crippled her in rough seas some 100 miles northwest of Casablanca. The cause of the explosion remained unknown last week, although Iranian Oil Minister Gholamreza Aqazadeh attributed the blast to the rupture of one of the ship's storage tanks during a storm...
Like other OPEC pacts, the truce came after days of heated negotiations. And like other OPEC pacts, it may prove ephemeral. Iranian Oil Minister Gholamreza Aqazadeh broke a deadlock when he tentatively gave in to Iraqi Minister Isam Raheem al-Chalabi's demand for a quota equal to Iran's 2.6 million bbl. a day. To accommodate the 1 million bbl. increase in Iraq's quota, other OPEC members gave up a bit of their own allowances...
...spark for a settlement came, surprisingly, from Iran. On the morning of Aug. 2, Iranian Oil Minister Gholamreza Aqazadeh approached Sheik Ahmed Zaki Yamani, his Saudi Arabian counterpart. The two men talked for about 90 minutes in Yamani's suite, which had a sweeping view of Lake Geneva. Since OPEC members were unwilling to make long-term promises to limit their oil production, Aqazadeh reasoned, Why not try an interim measure? He suggested a temporary return to the group's 1984 quota of some 16 million...
...part of the plan, Aqazadeh offered an unexpected concession. In the past, Iran had insisted that its production quota be twice as large as that of Iraq, with whom it has been at war for the past six years. But this time Iran dropped its usual demand. Iraq would be exempt from the agreement and could continue to produce at full capacity, about 1.8 million bbl. of oil a day. Iran would not really suffer either. It would keep pumping at present levels, lifting some 2.3 million...
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