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

To: Tomas who wrote (1584)	4/5/2000 11:48:00 PM
From: Tomas	Respond to of 2742

Lundin Oil Achieves Record Oil Price on January and February Sales STOCKHOLM, Sweden--(BUSINESS WIRE)--April 5, 2000--Lundin Oil AB (NASDAQ:LOILY - news) is pleased to announce that it achieved an average price of US$23.18 per barrel on crude oil sold in January and February 2000 after taking into account the effects of hedging. This is an increase of 118% compared to the average price achieved for January and February 1999, which was US$10.64. Average price achieved for all of 1999 was US$17.42. Average daily production for January and February 2000 amounted to 14,060 boepd. biz.yahoo.com

To: Tomas who wrote (1584)	4/9/2000 9:25:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Sudan: Industry Minister Comments On Economy, Return To IMF BBC Monitoring Service, April 9 Text of interview with Sudanese Industry and Investment Minister Dr Abd-al-Halim al-Muta'afi by unidentified correspondent in Amman, date not given, published by London-based newspaper `Al-Sharq al-Awsat' on 6th April [`Al-Sharq al-Awsat'] How would you assess the current status of the Sudanese economy? [Al-Muta'afi] There has been a major improvement in the Sudanese economy during the past two years as a result of the influx of investments, especially in the oil sector. Moreover, the government has been pursuing a stern policy based on the liberalization of the economy, lifting the subsidy from commodities and providing incentives for production. These policies have thus far led to a stable exchange rate of the national currency and made investors have confidence in the national currency and economy and improved the investment climate. [Q] What was the level of investments that flowed into Sudan last year and in which sectors did they concentrate? [A] There has been a major improvement in the level of investment in the communications and the finance industry, principally in the oil sector. The oil revenues since 1997 until now have amounted to more than 3bn dollars. [Q] To what extent has the blockade affected the flow of investments into the country? [A] There is no doubt that the blockade that has been imposed upon us has led a number of investors to shy away from investing in the country. The media and political onslaught that has been launched against our country has left its impact on us. In spite of this onslaught however, new investments have come to Sudan, especially in the oil sector, and these investments have succeeded to a great extent and this is confirmed by the current situation. [Q] To which investment sectors does the government give its main attention? [A] We are currently concentrating on energy and infrastructure projects such as roads and drinking water and there is a need for new investments in the industrial and agricultural and animal production sectors. [Q] It is known that Sudan is essentially an agricultural country but the agricultural sector has recently been suffering from a recession. [A] The agricultural sector was adversely affected when the government lifted its subsidy from it. However, we are currently working on pumping in some capital to revitalize it by exploiting the oil revenues, which have been channelled into the agriculture, irrigation and energy projects and into building capabilities and the services in terms of health, education and drinking water. [Q] How is the process of privatization proceeding in Sudan? Is there any intention of giving the private sector a bigger role in contributing to advancing the economic bandwagon? [A] The Sudanese government believes in the importance of the future role of the private sector in the national economy. That is why it has launched privatization in the country and this is proceeding in an intensive manner. For we have started with the privatization of the communications sector that has now achieved a major success. This is in addition to some industrial sectors such as the tannery industry. We are now proposing that the private sector should own new projects such as the textiles and cement industry. However, the privatization of the railway is proceeding slowly and that is why we are contemplating the establishment of an administration for airlines and trains in the republic that would come under the private sector. [Q] How are you dealing with the economic blocs and the requirements of globalization and the challenges that it brings with it? [A] We believe in the need for pursuing the policy of open economy and the need for joining the world economy. This is why we are currently working on joining the East, Central and South Africa Agreement and the Great Arab Free Trade Zone Agreement. We have also applied to join the World Trade Organization. We are now amending the legislation in order to reduce customs duties by the year 2005 and we have also proposed a new law for promoting investment that would entitle foreign investors to a 100 per cent ownership in the national economic sectors. We will also return as a full member of the International Monetary Fund [IMF] in September and this will enable us to obtain loans and the influx of funding for many projects and investments. We regard the Arab common market agreement and the Great Arab Free Trade Zone Agreement as the reasonable framework for free trade between the Arab countries that would enhance mutual benefits and achieve integration between the Arab economies in the face of the regional and global challenges and blocs. Source: `Al-Sharq al-Awsat', London, in Arabic 6 Apr 00 p 12