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

To: Greywolf who wrote (1866)	10/10/2000 6:25:00 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

Sudan to Increase Oil Output by 150% by Year End, Paper Says By Mohammed Tarek London, Oct. 10 (Bloomberg) -Sudan will increase its crude oil output by 150 percent to 500,000 barrels a day by the end of this year, Saudi-owned Al Hayat newspaper reported, citing oil ministry officials. Sudan started producing 150,000 b/d in June last year, rising to a current level of 200,000. It exported 64 million barrels in the year ended Aug. 1 from three oil-fields in the south-west of the country, earning $1.16 billion, the report said. Sudan exports oil through a 1,000-mile (1,600-kilometre) pipeline to the port of Bashaer on the Red sea. A consortium of four foreign oil companies is operating in the country. Sudan says its northern and western regions as well as the Blue Nile, the Red Sea and the White Nile areas contain substantial oil reserves. (Al Hayat 10/10 p 14 www.alhayat.com)

To: Greywolf who wrote (1866)	10/17/2000 6:52:51 PM
From: Tomas	Read Replies (1) \| Respond to of 2742

PNG Gas sale talks get nod PostCourier, October 18 BRISBANE: The $5 billion Papua New Guinea to Queensland gas pipeline project is free to finalise commercial sale agreements after Australia’s competition watchdog yesterday granted interim approval for suppliers to jointly market the gas. The Australian Competition and Consumer Commission (ACCC) approval will allow the partners to finalise sales agreements with Ergon Energy and Energex, before moving to the development stage of the project. ACCC commissioner Rod Shogren said interim authorisation had been granted to enable the producers to progress the project while the ACCC assesses whether joint marketing of PNG gas was in the public interest. The producers include project leader Chevron Australia, Exxon/Mobil and Australian-listed groups Santos Ltd, Oil Search Ltd and Orogen Minerals Ltd. The companies hold various interests in PNG gas fields and intend to sell gas through the proposed pipeline, which is in the final stages of complex negotiations before a final decision on proceeding is made. The project’s proponents have already spent close to $US70 million in planning but must lock-in commercial arrangements before moving to the front-end engineering (FEE) stage. The FEE stage, which will cost a further $US70 million, is expected to be given the go-ahead before the end of the year. In support of their application to the ACCC, the PNG producers argued the volumes of gas required for the project to proceed had increased, and hence the necessity for newcomer’s Exxon/Mobil and Santos’s participation in the project. Both companies already have substantial interests in gas supply in Queensland and their participation in the PNG project would give them access to detailed pricing and terms and conditions of PNG gas sales negotiations and contracts. ... postcourier.com.pg ____________________________________________ Australian Agency Approves Joint Marketing Of PNG Gas Asia Pulse, October 17 BRISBANE - Gas is to be jointly marketed by suppliers of the $A5 billion ($US2.62 billion) Papua New Guinea Gas Project, following approval by the Australian Competition and Consumer Commission (ACCC). The agency has granted interim authorization to the suppliers, which now include Santos Ltd and ExxonMobil, to jointly market gas. ACCC commissioner Rod Shogren said the ACCC had granted the interim authorisation to enable the PNG producers to progress the project while the ACCC assesses whether joint marketing of PNG gas is in the public interest. The PNG gas producers comprise Chevron Australia, Oil Search Ltd (ASX: OSH), Orogen Minerals Ltd (ASX: OML), ExxonMobil, Merlin Petroleum, Petroleum Resources and Santos Ltd (ASX: STO). _______________________________________________ Australian Regulator Lets Exxon Mobil Into PNG Gas Project Canberra, Oct. 17 (Bloomberg) -- Australia's competition regulator has approved participation by Exxon Mobil Corp. and Santos Ltd. in marketing natural gas from the $3.5 billion PNG Gas project, opening the way to final sales agreements. The pipeline project, one of the largest gas developments currently proposed in Asia, will carry gas more than 2,000 kilometers from Papua New Guinea to Queensland state. It had been delayed while the Australian Competition and Consumer Commission considered the participation of Exxon Mobil and Santos. Sales negotiations, one of the last steps needed for a decision to go ahead with the project, couldn't continue until Exxon Mobil and Santos joined ``and customers can talk to us as a group,'' Peter Botten, managing director of Oil Search Ltd., the largest holder of oil and gas reserves in PNG, said last month. ...