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

To: Tomas who wrote (1704)	6/6/2000 2:41:00 AM
From: Tomas	Respond to of 2742

Asia's Oil, Gas Sector At Important Crossroads - Business Times (Malaysia), June 5 BY LOKMAN MANSOR OIL producers and refiners are smiling, for now. Since late 1999, world crude prices have increased from the previous year's slump, and refiners are optimistic that their refining margins will improve. The use of gas meanwhile, has been on an uptrend and is expected to grow further. Prospects for natural gas remains bright, particularly as an alternative to oil. Oil now accounts for 37 per cent of the total energy demand while natural gas, 12 per cent. Many believe Asia will remain the engine of growth in the global economy, with its energy demand increasing by 6 per cent this year, mainly supported by robust expansion in export-oriented industries. As a comparison, the world energy demand is expected to register a growth rate of 3.4 per cent per annum up to the year 2005. According to industry forecasts, the uptrend in the region's energy demand is likely to continue for the next 10 years, at a 3.6 per cent growth per annum. Despite its position as a major energy consumer, the Asia Pacific region itself has limited indigenous oil and gas supply. Production in the region is just slightly more than 10 per cent of the global total, and reserves less then 5 per cent, which is estimated to last only over a decade at the current rate of production. This has led the Asian countries to become more dependent on West Asia, whose share of oil imports to the region is expected to rise steadily from about 75 per cent now to nearly 95 per cent by 2010. Hence the need to reduce this over-dependency is very crucial, particularly given the delicate political scenario in West Asia which would affect the global oil supply and the price regime. ...

To: Tomas who wrote (1704)	6/6/2000 5:45:00 PM
From: Tomas	Read Replies (2) \| Respond to of 2742

Sudan starts exporting refined oil KHARTOUM, June 6 (AFP) - Sudan has joined the club of nations exporting refined oil products, seeing off Monday a Turkish tanker loaded with 20,000 tonnes of benzine for Malta, a newspaper reported Tuesday. The official Al Anbaa daily said the ship was seen off from Port Sudan on the Red Sea in a ceremony attended by ministers and senior government officials who hailed the fact that Sudan has now switched from being an importer to an exporter of petroleum products. Sudan has been exporting some 20,000 barrels per day of crude oil since last October. It ceased importing oil products a month ago when Khartoum refinery, some 50 kilometres (35 miles) north of the capital, began operations to meet local demand and export the surplus. The refinery is a joint venture by the Sudanese government and the Chinese National Petrolem Company (CNPC). Its output is taken to Port Sudan through a pipeline which was originally built in 1977 to move imported oil products in the other direction. Speaking at Monday's ceremony, energy ministry secretary general Hassan Mohamed Ali al-Toam said the refinery would also produce five times the domestic consumption of gas, which is currently 100,000 tonnes a year. The surplus gas will begin to be exported in two weeks' time, but will later be used to fuel a power station designed to yield 200 megawatts of electricity, Toam said. He announced that the price of gas for local consumers would, as of Wednesday, be cut by half, from 20,000 Sudanese pounds (about eight dollars) per cylinder to 10,000 pounds. ______________________________________________ SUDAN/BENZINE EXPORT Port Sudan, June 5 (SUNA)- The process of exporting Sudanese benzine via Port Sudan harbour began Monday at the initial rate of 40,000 tonnes monthly. This rate of benzine exports is due to increase to 60,000 tonnes per month later. The first quantity of the Sudanese benzine, reaching 20,000 tonnes, is shipped by a British company from Port-Sudan to Malta. Meanwhile, the Ministry of Energy and Mining Monday held a celebration in Port Sudan town on the occasion which was attended by the Wali of the Red Sea State and federal and the state's ministers and a big number of citizens. At the celebration, the Minister of Energy and Mining, Dr. Awad Ahmed Al-Jaz, turned a valve at a benzine reservoir to mark commencement of the Sudanese benzine exportation. Dr. Al-Jaz and other senior officials inspected the Turkish ship which will carry the first Sudanese benzine shipment. The benzine pumping in the ship began at 09:00 pm on Sunday and due to last for 48 hours, before leaving Port-Sudan harbour on Tuesday. SUNA learned that the duration of benzine pumping into tankers would drop from 48 hours to 12 only after introduction of new pumps.