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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

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To: Box-By-The-Riviera™ who wrote (71547)	6/12/2001 7:11:30 AM
From: lorne	Read Replies (1) of 116779

Joel. Is this the story your after? Scroll to last paragraph. Saudi seizes Iraqi pipeline on its territory Saudi Arabia said on Monday it seized ownership of an Iraqi crude oil pipeline that crosses its territory and has been shut down since Baghdad's 1990 invasion of Kuwait. The move is certain to increase tensions between the two Gulf neighbors, stirred up last week by Saudi allegations that Iraq has staged a series of raids on Saudi border outposts in recent months. Saudi Arabia, in a letter to UN Secretary-General Kofi Annan, said it was taking over the pipeline because Iraq had made threats against it and committed aggression, "thereby causing serious damage to the Saudi people in terms of lives and property, as well as to natural resources and the environment." It did not offer specifics. Because of this, it said the pipeline - including pumping stations, storage tanks, communications system, loading facilities and a maritime terminal at the Red Sea port of Mu'jiz - "will revert in its entirety to the government of Saudi Arabia." The seizure took effect last Thursday. arabia.com

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