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

To: Captain James T. Kirk who wrote (51163)	9/15/1999 10:12:00 AM
From: marc chatman	Read Replies (2) \| Respond to of 95453

It still appears to me that HLX is trading at a discount -- for the moment, anyway.

To: Captain James T. Kirk who wrote (51163)	9/15/1999 11:59:00 AM
From: oilbabe	Read Replies (1) \| Respond to of 95453

Chavez Says Venezuela, OPEC Don't Seek Higher Output, Seek Stable Prices Caracas, Sept. 15 (Bloomberg) -- President Hugo Chavez said Venezuela and the Organization for Petroleum Exporting Countries don't contemplate boosting oil production, and are seeking stable prices. Chavez said last night that OPEC should act to make sure prices don't rise further, and an average of Venezuelan crude now sells for $20.50, which he described as an ``optimal' level. ``We are committed to OPEC and are not considering any increase in oil production,' Chavez said today. ``What we want is to eventually impose a mechanism that keeps prices stable.' Yesterday's comments by Chavez cast doubt over whether Venezuela is committed to output cuts by world oil producers that stay in place until March 31. As late as Monday the country's energy and mines minister said Venezuela would push to keep cuts until that date in a bid to trim inventory levels. Crude oil for October delivery rose $0.20, or 0.8 percent, to 24.06, after it dipped in early trade in New York. OPEC will to decide whether to continue cuts, designed to remove about 6 percent of world oil supply to boost prices, when the countries meet in Vienna on Sept. 22. Venezuelan oil prices, which have more than doubled this year to a high of $20.50 a barrel, shouldn't be allowed to climb during the winter months when demand normally increases, Chavez said Tuesday. Oil prices in New York have risen about 80 percent this year. Chavez said Venezuela will propose a price-band mechanism to OPEC in a bid to keep prices stable. Venezuela's price-band proposal would require producers to immediately adjust production levels if prices swing outside of the band. Venezuela dismissed the possibility of increasing its production unilaterally and Chavez said it will be up to a collective OPEC decision whether to adopt the band. --------------------------------------------------------------------------------