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

To: Jon Cave who wrote (71969)	8/29/2000 5:47:29 PM
From: ItsAllCyclical	Read Replies (1) \| Respond to of 95453

Refinery rates 95.5% in latest wk vs 96.9% in previous... Don't know for sure, but it does seem to explain the large build. Either way it's only a net build of 3 mil. I'd rather have oil stay around $28 than have an oil shock.

To: Jon Cave who wrote (71969)	8/29/2000 7:02:27 PM
From: Meridian	Respond to of 95453

Really? - Iraq Boosts West Qurna Oilfield Output By 250,000 B/D Dow Jones Newswires WEST QURNA, Iraq (AP)--Iraqi engineers have built two degassing stations at the huge West Qurna oil field, adding nearly 250,000 barrels a day to the country's output, officials and technicians said Tuesday. The additional barrels have helped Iraq to raise its output this year to nearly 3.1 million barrels a day from about 2.8 million barrels last year. The rate is almost equivalent to Iraq's output before its August 1990 invasion of Kuwait. Iraq is barred from most international trade under U.N. sanctions imposed for its 1990 invasion of Kuwait. But under a U.N. exemption meant to ease the burden of sanctions on ordinary Iraqis, the country has been able to import spare parts for its oil industry - including parts for the degassing stations built with local expertise. The West Qurna field, 75 kilometers northwest of Basra, is considered by some Western observers to be among the largest in the world with proven reserves at about 15 billion barrels. The two degassing stations are on stream now at West Qurna. The field's resident engineer, Ahmad Khazaal, said he hoped two more will be brought on line in 2001, hiking production to about 400,00 barrels a day. Some 60 wells now feed the stations with an average well production rate of over 4,000 barrels daily, one of the highest in the world. Iraq says West Qurna has a potential oil output of as much as 1 million barrels daily. Most of West Qurna's oil wells were devastated by U.S. and allied bombing during the Gulf War. Equipment and many of West Qurna's surface facilities were also either looted or destroyed during the war. Khazaal said shortages of spare parts forced Iraqis to scour the country for metal. He said some fittings and spares for West Qurna were made from the wings and debris of U.S. aircraft shot down during the war.