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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (13572)	11/18/1998 11:36:00 AM
From: Kerm Yerman	Read Replies (12) of 15196

IN THE NEWS / Canadian Occidental Petroleum signs oil deals on four Yemen blocks ADEN, Nov 18 -- Canadian Occidental Petroleum has signed production sharing agreements for four oil blocks in Yemen, official newspapers reported on Wednesday. CanOxy signed the deals for the four blocks in the Hadramaut and al-Maharah governorates with the Oil and Mineral Resources Ministry, the papers said. CanOxy began talks with the ministry for blocks 11, 12, 36 and 54 in August. The firm, which currently operates the Masila sector, produces about 200,000 barrels per day (bpd) of crude. Yemen is an independent oil producer on the southern tip of the Arabian peninsula with an output of about 380,000 bpd.

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