VOL. XL

No. 25

23-June-1997

IRAN

D'Amato Warns Canada's Bow Valley Against Balal Oil Field Development

US Senator Alfonse D'Amato (R-NY), the Chairman of the Senate BankingCommittee, has warned the Canadian firm Bow Valley Energy Ltd. against signing a deal withthe National Iranian Oil Company (NIOC) for the development of the offshore Balal oilfield. Bow Valley, in a joint venture with the UK firm Pell Frischmann Group, has put in abid for the development of Balal and is currently negotiating...