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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Aggie who wrote (42311)4/15/1999 10:46:00 PM
From: JungleInvestor  Read Replies (1) of 95453
 
Thanks again, Aggie!! The following are from the Greywolf site. If the government had not been so slow, they could have gotten some oil in the SPR at a lot lower price.

Washington, April 15

OPEC's March agreement to remove 2.1 million barrels of crude oil per day from world oil markets is likely to run into delays, US Energy Secretary Bill Richardson said.

Washington, April 15

The US Strategic Petroleum Reserve will take in 500,000 barrels of so called federal royalty oil "within the next 10 days," a senior Department of Energy official told Bridge. The royalty oil is the first addition to the SPR since the Energy Department's February announcement it will add 28 million barrels of crude oil to the reserve in an effort to shore up the emergency energy stockpile.
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