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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (50085)	8/30/1999 5:37:00 PM
From: gpphantom	Respond to of 95453

News Briefs: Comtex B B: BRIDGE UPDATE--OIL: Charlmette refinery unit seen down 2 weeks Aug. 30-MAR-- CROSS TIMBERS OIL SEES 2000 OPER CASH FLOW OF $4 SHR New York--Aug 30--0838 ET--Cross Timbers Oil Company has targeted $4 per share cash flow from operations in 2000, as well as proved reserves of 40 Mcfe per share and debt of $0.40 per McFe. Consolidated cash flow per share for the third quarter is expected to exceed $0.80 per share and $1.00 per share in the fourth quarter. (Story .13446) --EUROPE/RUSSIA/AFRICA-- FRANCE'S TOTAL SEES FIRST OIL AT RUSSIAN FIELD MID-SEPTEMBER Moscow--Aug 30--France's oil major Total said today it expected to start oil extraction at the Russian far-north Kharyaga oil field as early as mid-September. The Total-led international consortium operate s the field under a production-sharing agreement. (Story .14435) RUSSIAN GOVT TO FOCUS ON NATURAL MONOPOLIES' TRANSPARENCY 2000 Moscow--Aug 30--0851 ET--The Russian government sees its priority as making natural monopolies more transparent in 2000, the government has said in its 2000 economic forecast submitted to the Duma. Major domestic natural monopolies, such as gas giant Gazprom, power grid RAO UES, oil pipeline monopoly Transneft and the Railway Ministry will be required to publish quarterly financial results under international standards starting next year. (Story .13601) RUSSIAN GOVT SOURCE SAYS FUEL MINISTER LIKELY TO GO IN SEP Moscow--Aug 30--0633 ET--Russian Fuel and Energy Minister Viktor Kalyuzhny is expected to be dismissed as early as September, a government source said today. The rumors about the minister's dismissal circulating in the government reflect changes in the power balance in the Kremlin, oil analysts here said. (Story .12323) --MIDDLE EAST/CASPIAN SEA-- MEES: IRAQ OIL SALES CONTRACTS FOR PHASE 6 AVERAGE 2.06 MLN BPD Singapore--Aug 30--0406 ET--As of Aug 26, the United Nations has approved contracts signed between Iraq's State Oil Marketing Organization (SOMO) and international companies for a volume of 371.5 million barrels (206 .3 million barrels of Basrah Light and 165.2 million barrels of Kirkuk), according to the UN Office of the Iraq Program (OIP), the Middle East Economic Survey (MEES) reported today. (Story .11312) --ASIA-- PHILLIPINES' PETRON EXPECTS LOWER RETURN-ON-RATE BASED IN 1999 Manila--Aug 30--0707 ET--Philippine oil refiner Petron Corp expects to post a net income this year but due to its restraint in increasing pump prices, its return-on-rate base will be lower than pre-regulation levels, Petron chairman Jose Syjuco Jr today said. (Story .12541) POOR REFINING MARGINS MAY FORCE CHINA REFINERS TO CUT Q4 RUNS Singapore--Aug 30--0107 ET--The failure of Chinese oil product prices to keep pace with spikes in international crude prices has seen refining margins by domestic oil refineries heading downwards, industry sources said. These have sparked speculations that China may cut crude throughput levels in the fourth quarter or reduce import volume of crude. (Story .10467) ENERGY TENDER: INDIA BUYS 4 CARGOES OF GAS OIL FOR OCT DELIVERY Singapore--Aug 30--The Indian Oil Corp. (IOC) has bought a total of 4 cargoes of gas oil through its latest buy tender for October lifting, sources in Singapore said. Vitol, Cargill, Shell and BB Energy were said awarded 1 cargo (40,000-45,000 tonnes) each. (Story .10370) ........................................................................ .. .... SPOT NEWS LINKS: Media://NewsSearch::/source=mar/category=n-eny/go/search ........................................................................ .. .... THE MARKETS: FUTURES: .1900 NYMEX Oil Review: Surges on refinery snags, OPEC confidence .1800 IPE Gas Oil Review: Futures end higher after choppy session .1806 Technical Analysis: IPE Brent Crude CRUDE: .1731 Persian Gulf Crude: Oman term offers to Petron seen 26c/bbl over .1897 NYMEX Mideast crude index $19.93, up 51c; Aug avg at $19.32 .1910 US Crude Review: LLS trades at 22c premium to WTI, down 1c .1748 Latin America Crude: Cusiana result eyed; Oriente force majeure .1810 NW Europe Crude: Brent trades at Oct -27c, Forties at dtd +5c PRODUCTS: .1811 Europe Gasoline: NW Europe to US arbitrage remains closed .1725 Europe Gasoil Barges: Heating oil levels down; dealing Sep -$2 .1901 Chicago Sep low sulfur diesel up to 4.25-4.50c over NYMEX .1903 NY Oil Mkt: Traders tying cash deals increasingly to Oct NYMEX .1902 US Group 3 Midwest Aug gasoline falls to 3.25c under NYMEX .1904 US Gulf Mkt: Gasoline quietly lower, jet fuel/heating oil rise SHIPPING: .4501 Ldn Tanker Review: Persian Gulf VLCCs rates up .4536 NY Tanker Review: Little activity; Persian Gulf rates firm OTHER: .1785 BRIDGE US/CANADA/CARIBBEAN REFINERY DISRUPTION SUMMARY .1726 BRIDGE EUROPE REFINERY DISRUPTION SUMMARY .1730 BRIDGE ASIA REFINERY DISRUPTION SUMMARY .5633 BRIDGE MENU: Energy News .5638 BRIDGE MENU: Energy - Live Data .1913 BRIDGE UPDATE--POWER .5820 BRIDGE UPDATE--GLOBAL WEATHER End of Part 2 * end of story *