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

To: kodiak_bull who wrote (81388)	12/12/2000 7:54:13 AM
From: warren harris	Respond to of 95453

Here's some general info from around the world....(VBG). There may be a hidden gem in here for someone. Dec 12, 2000 (FWN Financial via COMTEX) -- TOP STORIES: IRAQ: Turkish terminal source sees no oil exports for 2-4 days Istanbul--Dec. 12--0403 ET--No resumption of loading of Iraqi oil exports at the Turkish terminal of Ceyhan is expected for about two to four days due to a pricing dispute, a terminal source told BridgeNews Tuesday. The source said, however, that Ceyhan had sufficient storage for 4 days of Iraqi oil pumped through Iraq's twin trans-Turkey pipelines. Iraq asked on Monday for a premium of 40 U.S. cents per barrel for its crude oil cargoes from Tuesday onward, after the U.N. and contract customers had rejected a previous similar request. ( Story .12160 ) IRAQ: India ensured smooth loading; others resist more premiums Singapore--Dec. 12--0020 ET--Iraq has officially informed Indian Oil Corp. (IOC) that IOC-chartered 135,000-tonne vessel Jade will be one of the first vessels to load crude oil at Iraqi port, while the crude price issue remains, Indian officials confirmed. Other Asia-based crude contract holders, meanwhile, refuse to pay "more" premiums--U.S. 40 cents per barrel--to start loading crude, while some have paid 10c during the eighth round of oil-for-food program, they said. ( Story .10752 ) API Sneak Preview: Crude down; gasoline, distillates, runs up Houston--Dec. 11--1559 ET--Inventories of crude oil are expected to have fallen 1.0 to 1.4 million barrels last week, while gasoline stocks are expected to have increased 0.7 to 1.0 million barrels, according to brokers and analysts. Distillate fuels are expected to have risen 0.6 to 1.0 million barrels, while refinery runs are seen higher by 0.2 to 0.4 percentage points of capacity. ( Story .1885 ) OF INTEREST: --EUROPE/RUSSIA/AFRICA-- RBS says UK daily oil/gas revenues down 3.7% in Oct vs Sept London--Dec. 11--1901 ET--The United Kingdom's daily revenues from oil and natural gas production fell by 3.7% in October, compared with September, to 62.4 million sterling, the Royal Bank of Scotland (RBS) said Tuesday in its latest monthly Oil and Gas Index report. But the October figure represented a rise of 28.5% from combined daily oil and gas revenues of 48.1 million sterling in the same month a year ago, the RBS report noted. ( Story .19531 ) --ASIA/PACIFIC-- India ONGC Nov crude oil output 2.09 mln tns vs. 2.15 mln Oct New Delhi--Dec. 12--0245 ET--State-owned Oil and Natural Gas Corp. Ltd., India's largest crude oil exploration company, produced 2.09 million tonnes of crude oil in November down from 2.15 million tonnes in October, according to figures compiled by the company. ( Story .11596 ) Italy's ENI mulling options in race for Australia's Petroz Melbourne--Dec. 12--0033 ET--ENI SpA, Italy's biggest oil and natural gas company, said it is reviewing its Australian 56 cents per share offer for Australian oil producer Petroz NL, after the Petroz board last week advised shareholders to accept a rival 70c per share offer from U.S.-headquartered Phillips Petroleum. ( Story .10827 ) --AMERICAS-- FULL: Devon Energy discovers oil, gas prospect in Gulf of Mexico New York--Dec. 11--1827 ET--Devon Energy Corp. made an oil and gas discovery in the Cyrus prospect on the Gulf of Mexico. The well, drilled to a total depth of 15,147 feet, encountered 230 net feet of oil and gas a day in four separate sands. The company said a second well, and possibly a third well, will be drilled before releasing the rig. Production from the new platform is expected to begin in 2002. ( Story .21888 ) BRIDGE OUTLOOK 2001: Venezuela struggles to lift output capacity Caracas--Dec. 11--1624 ET--This year was meant to be a turnaround period for Venezuela's oil industry. Having grown accustomed to its new political masters, state oil company PDVSA was expected to ramp up activities as the price of crude oil rebounded. Instead, management turmoil continued, resulting in the bizarre sight of drill rigs sitting idle as production capacity plunged. ( Story .20318 ) BRIDGE OUTLOOK 2001: Brazil hungry for power, thirsty for oil Rio de Janeiro--Dec. 11--1626 ET--Brazil will be one of the most exciting energy markets in the world in 2001. The Latin giant is already the largest petroleum exploration and production frontier, with Round III oilfield auctions expected to keep up the pace. ( Story .18230 ) THE MARKETS: FUTURES: .1709 US Crude Deals .1905 NYMEX Pre-Opg .1710 US Crude .1899 NYMEX Oil .1910 US Crude Review .1900 NYMEX Oil Review .1917 West Coast Crude .1800 IPE Oil .1813 Brent CFDs SHIPPING: .1748 Latin America Crude .4207 BRIDGE TANKER SUMMARY: Dirty .1701 Asia Crude .4208 BRIDGE TANKER SUMMARY: Clean PRODUCTS: .4501 BRIDGE UPDATE-TANKER WATCH .1903 NY Oil Mkt .4536 NY Tanker Review .1904 US Gulf Mkt STATS: .1901 Chicago Oil Mkt .1885 API Sneak Preview .1902 US Group 3 Mkt .1898 API Review .1868 US VGO/Naphtha .1966 US DOE Weekly Oil Data .1841 West Coast Oil .1897 NYMEX Mideast crude index .1811 Europe Oil Products .1875 OPEC crude basket .1811 Europe Gasoline .1799 OPEC output survey .1702 Asia Gas Oil (C) Copyright 2000 FWN

To: kodiak_bull who wrote (81388)	12/12/2000 10:11:41 AM
From: Razorbak	Respond to of 95453

"Norway's PGS Says Has No Plans to Split in Two" Tuesday December 12, 8:36 am Eastern Time OSLO, Dec 12 (Reuters) - Norwegian oil and gas services firm Petroleum Geo-Services (PGS) (NYSE:PGO - news) said on Tuesday it had not plans to divide the company into two separate units. Earlier PGS shares jumped 11 percent on speculation the company would split into separate floating platform production and seismic operations units. ``These are the two areas we are focusing on and we hope in the future to achieve greater synergies than we have done before,'' spokesman Erik Hokholt told Reuters. PGS shares, which only last week hit a two-year low of 88 Norwegian crowns on concerns over future earnings, and earlier today hit a high of 104 crowns, were last up 8.6 percent at 101 crowns. biz.yahoo.com

To: kodiak_bull who wrote (81388)	12/12/2000 12:39:24 PM
From: kollmhn	Read Replies (1) \| Respond to of 95453

Here's what the company said about PGO splitting:Quotes Tuesday December 12, 8:36 am Eastern Time Norway's PGS says has no plans to split in two OSLO, Dec 12 (Reuters) - Norwegian oil and gas services firm Petroleum Geo-Services (PGS) (NYSE:PGO - news) said on Tuesday it had not plans to divide the company into two separate units. Earlier PGS shares jumped 11 percent on speculation the company would split into separate floating platform production and seismic operations units. ``These are the two areas we are focusing on and we hope in the future to achieve greater synergies than we have done before,'' spokesman Erik Hokholt told Reuters. PGS shares, which only last week hit a two-year low of 88 Norwegian crowns on concerns over future earnings, and earlier today hit a high of 104 crowns, were last up 8.6 percent at 101 crowns.