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Gold/Mining/Energy : Valero Energy -- Ignore unavailable to you. Want to Upgrade?

To: Ram Seetharaman who wrote (4)	10/4/2000 4:27:12 PM
From: Ram Seetharaman	Read Replies (1) \| Respond to of 7

VLO's double whammy! Great market for its market - now it gets cheap oil at good supply from SPR! Wow! Wednesday October 4, 4:02 pm Eastern Time Eleven companies win oil from US stockpile - DOE WASHINGTON, Oct 4 (Reuters) - The U.S. Energy Department announced Wednesday that 11 companies submitted winning bids to borrow 30 million barrels of crude oil from the nation's emergency oil stockpile to help ease prices and supplies ahead of the winter heating season. The winning bidders must restock the Strategic Petroleum Reserve next year with the same amount of oil as borrowed, plus an additional 1.56 million barrels, an Energy Department spokesman said. Companies to receive the oil include BP Amoco Plc (quote from Yahoo! UK & Ireland: BP.L), Amerada Hess Corp (NYSE:AHC - news), Morgan Stanley, Valero Energy Corp (NYSE:VLO - news). Last month, the White House ordered the loan of 30 million barrels of oil from the nation's emergency reserve to boost supplies of heating oil and ease prices ahead of the winter heating season. The winning bidders will take 24.05 million barrels of sweet crude oil, and 5.95 million barrels of sour crude.