LUKOY The largest oil company in the world LukOil unknown Message Board

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Gold/Mining/Energy : LUKOY The largest oil company in the world LukOil unknown

LUKOY 6.960

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Dec 24 4:00 PM EST

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To: Fred Levine who wrote (867)	8/25/2001 4:53:07 PM
From: Rob Shilling	Read Replies (3) of 914

Yep, they sure did underestimate the pace of the rebound of the Russian oil industry. But, then again, everything that has happened in Russia since 1998 has been underestimated !!! I have been following the increase in exports. In the first half it has been around 200,000 bpd. This is big, but, it barely covers the decrease in production from the North Sea (200,000 bpd also). Then there is seasonal demand picking up right now that will increase demand by 2 mbpd. So, I see no immeadiate "glut" thanks to Russian oil. In fact, there doesn't seem to be any non-OPEC area around the world with significant increases in production with the exception of Russia. With demand continuing to go up year after year, the world NEEDS Russian oil. So, this is good for the world and good for Russia. Oil has become a growth industry and Russia is perfectly positioned for it!!!

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