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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden) -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (1261)	8/30/1999 3:38:00 PM
From: Tomas	Respond to of 2742

Sudan begins oil exports - BBC, August 30 news.bbc.co.uk Sudan has finally joined the ranks of oil-exporting nations, sending an inaugural shipment of 600 thousand barrels of crude to Singapore. President Omar al-Beshir led a colourful ceremony at the specially built port of Beshair on the Red Sea, about 400 kms north-east of the capital, Khartoum. Officials laughed and danced to traditional music in front of a chanting crowd as a tanker carrying the oil prepared to leave the harbour. Sudan has been trying to develop its oil industry since the 1970s and during his speech President Beshir said the exports were a reward from God for Sudan's faithfulness. Pipeline warning However, a BBC correspondent in the region says the exports may also inflame the civil war in a deeply divided country. She says rebels who are fighting for greater autonomy in the south have warned they will blow up the newly opened 1600 km pipeline which runs underground from Heglig oilfields in the south to Beshair. The government has dismissed these threats and in his speech, President Beshir called the opposition "allies of the devil". Companies from Sudan, China, Malaysia and Canada have been helping develop oil fields in south although it could be years until the consortium recovers the money it has invested. IMF agreement Officials admit initial gains will be modest, but are counting on the project to restore investor confidence in a country that has earned a reputation as a sponsor for terrorism. Its thought the Heglig area has recoverable reserves of about 627 million barrels of crude and initially there are plans to pump 150,000 barrels a day. The oil exports coincide with a decision by the International Monetary Fund (IMF) to reduce the cost of servicing of Sudan's $20 billion foreign debt. The IMF has also revoked a five year classification of Sudan as a "non-cooperating country" for failure to meet its foreign debt obligations.

To: Tomas who wrote (1261)	8/30/1999 3:49:00 PM
From: Tomas	Respond to of 2742

Sudan starts first oil exports from Red Sea terminal - Reuters, Aug.30 By Alfred Taban PORT BASHAIR, Sudan, Aug 30 (Reuters) - Sudan on Monday began the first crude oil exports from its Red Sea terminal of Port Bashair. President Omar Hassan al-Bashir presided over the ceremony at the Port Bashair oil terminal attended by thousands of Sudanese, including speaker of parliament Hassan al-Turabi and several foreign dignitaries. The Port Bashair oil terminal lies about 25 km (15 miles) south of Port Sudan, the country's main port, and about 1,200 km (750) miles northeast of Khartoum. Dressed in military fatigues, Bashir watched a Panamanian tanker being loaded with 600,000 barrels of Sudanese oil. The shipment will sail for Singapore next week, prices at a discount price of 90 cents per barrel fob to Asian crude marker Minas. A second cargo, expected to load around September 10-15, was bought by a South Korean refinery at Minas -$1 fob. Officials at Sudan's Energy and Mining Ministry said Sudan is selling its oil at 18 dollars per barrel, slightly less than the international market price. Hassan Eltom, secretary-general of the Energy and Mining Ministry, said in May he expected exports to start at 120,000 barrels per day (bpd), rising to 150,000 bpd within a few weeks. Engineers at the port said the pipeline's design capacity of 450,000 bpd will be reached within four to seven years. Port Bashair has a storage capacity of two million barrels and is expected to rise to 3.2 million barrels with the use of reserve resevoirs. Bashir inaugurated a new 1,600-km (1,000 mile) 28-inch pipeline from the Heglig oilfield to the Red Sea port on May 30. Sudan is reported to have reserves of some 800 million barrels of oil in its Heglig and Unity fields. Traders Trafigura have been appointed official marketers for Sudan's Nile Blend crude for an initial six months except for the 30 percent equity share owned by Malaysian state oil company Petronas, which will handle its own marketing. The other equity owners in the Greater Nile Petroleum Operating Company are the China National Petroleum Corp (40 percent), Talisman Energy Inc of Canada (25 percent), and Sudan's national petroleum company (five percent). biz.yahoo.com

To: Tomas who wrote (1261)	8/30/1999 4:02:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Sudan Celebrates Exportation Of Its First Shipment Of Petroleum Amid Wide Participation Bashair Port, Aug. 30 (SUNA)- Sudan on Monday celebrated its biggest economic achievement in a century which is the export of its first oil shipment from this Sea port, especially constructed for the petroleum export, to the rest of the world : a ship carrying some 600,000 barrels of crude oil is taking its load to Singapore. A celebration marking the occasion was organized here with the President of the Republic, Gen. Omer Al-Bashir, accompanied by the heads of state of Chad and the Central African Republic attending. The ceremony was attended by the Speaker of the National Assembly, Dr. Hassan Turabi, along with the Chief Justice, members of the Constitutional Court, Federal Ministers led by Energy and Mining Minister, Dr Awad Al-Jaz, as well as high-level delegations from Algeria, Egypt, Ethiopia, Chad, China, Malaysia, Saudi Arabia, Iran, Yemen, Russia, France, South Africa in addition to ambassadors accredited to Sudan besides states governors and executives and senior officials and local and international media representatives. President Al-Bashir who addressed the celebration congratulated the Sudanese people on this great accomplishment. The President thanked those who stood behind the achievement, headed by Dr Awad Ahmed Al-Jaz, who spearheaded the process and who was awarded the Star of Accomplishment. The President also awarded a number of companies medals for their contribution in this domain including companies from China, Malaysia, Canada besides others from Germany, Argentina, Italy, Sudan, Austria, Sweden, Philippines, India, Qatar, Colombia, South Africa, Iraq, Jordan, Saudi Arabia, Iran, Turkey and Yemen. The Energy and Mining Minister meanwhile invited investors from the world to come to the Sudan and invest in the petroleum fields. The ceremony began with a prayer of thanks. Then President Al-Bashir pushed the button of loading crude in the ship, amid jubilation by the masses. Sudan News Agency (Suna) 30 August Petroleum News Digest sudan.net