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

To: Tomas who wrote (1880)	10/21/2000 1:05:58 AM
From: Tomas	Respond to of 2742

Lundin Oil expands in Malaysia - Dagens Industri (Sweden), October 19 Lundin Oil, the Swedish oil and gas company, is to expand its field in Malaysia. The production has increased by more than 8 per cent in the last two weeks, so that the company now produces more than 15,000 barrels of oil per day. The figures are confirmed by Adolf Lundin, board chairman of Lundin Oil, who is also pleased about cash flow of between US$40M and US$50M in Malaysia alone. The company is soon to start oil extraction in Libya, expecting production of 15,000 barrels per day. Mr Lundin believes the oil prices will continue to increase, even if they might go back and forth in the process. He is quite certain they will be much higher only two years from now. He said the tendency is quite clear and claimed the only country that can increase capacity is Saudi Arabia. At the same time, world consumption increases by two million barrels a year. Abstracted from Dagens Industri in Swedish (Lundin bygger ut oljefalt i Malaysia)