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

To: Big Dog who wrote (64052)	4/7/2000 11:37:00 AM
From: jim_p	Read Replies (1) \| Respond to of 95453

I've been saying that for the last six months. jim

To: Big Dog who wrote (64052)	4/7/2000 11:42:00 AM
From: Post_Patrol	Respond to of 95453

Big Dog...>>There may be less spare capacity in the world oil supply system << Investors in the Patch are not gonna wait on "may be" They trade on the current price of oil and it`s going down along w/OSX. Personally we think it`s a buy long term (two years) but not "Short" term. Who in the hell wants to wait two yrs.??? not us! Regards, from the Post_Patrol

To: Big Dog who wrote (64052)	4/7/2000 12:29:00 PM
From: Think4Yourself	Respond to of 95453

Speaking of politics vs true capacity (heh-heh-heh!)... Norway Could Reduce Its Crude Output Capacity Level in May By Sean Ross OSLO, Norway, Apr 7 (Bridge) - The world's second largest crude exporter, could announce in May reduction in its oil production capacity to more realistic levels from the budgeted production of 3.4 million barrels of crude per day in 2000, the petroleum and energy director general Tore Sandvold told Bridge News Friday. The OPEC supported cut of 100,000 barrels per day still existing will be maintained even on lowering of the production capacity level, he said. "We will have to do maintenance at the end of the second quarter and beginning of the third quarter. Our capacity level could still be 3.4 million barrels, but it could also be adjusted," said Sandvold. Inability to achieve the budgeted production levels and maintenance shutdowns due around July could see the output figure adjusted downward when the revised budget is released. Sandvold said any adjustments would be announced in the revised Budget. The 3.4 million barrels per day target was announced in October when the 2000 Budget was released. The Department's capacity figure is based on quarterly data received by the Norwegian Petroleum Directorate and based on operators' expectations of output. However, Norway's decision, as per OPEC's March announcement, to raise its crude oil output capacity to 3.3 million barrels from 3.2 million is not expect ed to have any practical implication for its output this year. Norway had reduced its output level to 3.2 million barrels on the basis of OPEC decision earlier to cut production. The 3.4 million barrels per day target announced in October was optimistic as production averaged only 2.9 million barrels per day in 1999 and had risen to only 3.125 million barrels during the early part of 2000. The deficit has been due to delays in start-ups, production failures and especially poor weather in the North Sea, which forced platforms with little storage space to shut down as tankers could not relieve them of their oil.