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

To: Razorbak who wrote (55656)	11/30/1999 4:01:00 PM
From: BigBull	Read Replies (2) \| Respond to of 95453

Razor, Glad I used the term seemed! <g> I think your are probably correct that the article overstated the case due to the instances you cited. Having said that, there are imo some interesting questions raised here, are there not. 1. What will the new entity do with the money? 2. Don't you think the bulk of the money derived will be ploughed into E&P? Actually, Razor, I'm not quite convinced that the divestiture of the California refinery is as unwelcome as you suggest. I'm sure you are aware of that massive new refinery recently completed in India. I've been reading that several refineries in the Asia-Pacific region are facing severe margin pressures, over and above those typical of this part of the oil cycle. Some are even being permanently shut as they are now uncompetitive. This, of course, is all from memory, and I have no links to substantiate my claim. The only reason I remembered it at all, was due to the fact that new refinery is so huge, and it's capacity so massive that it stuck out in my mind. Of course, I will always defer to your expertise in the matter of refining. Do you recall the name and location of said refinery and it's owners? TIA All the best Bull.