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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Lazlo Pierce who wrote (8281)1/15/1998 3:03:00 PM
From: chuck weir  Read Replies (1) of 95453
 
exico City--Jan 14--In response to the sharp drop in oil prices, Finance
Secretary Jose Angel Gurria said Mexico would adjust its 1998 budget to
cope with a projected 15.27-billion-peso revenue shortfall. The government
is assuming an average oil price this year of $13.50 per barrel, compared
with the original estimate of $15.50. By John Moody and Jim Cole, Bridge
News, Story .17648

Caracas--Jan 14--Luis Giusti, president of Venezuela's state oil company
PDVSA, said he expected the average 1998 price for Venezuela's oil exports
to be $14.20 per barrel. He said this would leave the government with a
budget shortfall of around $800 million because the budgeted oil price is
$15.50. But the vice energy minister said it was too early to revise the
1998 budget. Ben Backwell, Bridge News, Stories .12994, .16193

To all:
The above might be useful in planning subsequent investments in the oil drilling/services sectors.
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