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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (23864)	6/17/2003 9:03:47 AM
From: Wyätt Gwyön	Respond to of 206209

Russia Gazprom 2002 net profit rises 21 pct Tuesday June 17, 4:02 am ET MOSCOW, June 17 (Reuters) - Russia's gas giant Gazprom (GAZPPE.RTS) said on Tuesday its net profit rose 21 percent in 2002 to 121.60 billion roubles ($3.99 billion). Revenues of the world's largest gas producer rose 4.3 percent to 613.75 billion roubles despite lower gas prices in Europe. Higher gas sales in the former Soviet Union republics and higher domestic gas prices compensated for falling export prices and boosted revenues. ($1=30.46 Rouble)

To: Tomas who wrote (23864)	6/17/2003 6:44:25 PM
From: quehubo	Respond to of 206209

I dont doubt that we have 2-4 bcf of fuel switching to #2 oil and #6. I estimate over the last 4 weeks that #2 oil has taken about 1.3 bcfpd and residual has probably been constant since NG passed $4.50 or so. I suspect the market is not smart enough to efficiently find the true dynamic equilibrium price and will fall well below the $6+ needed to keep generators away from NG. The problem is how many consumers locked in #2 supply for all of June? We may not see any serious rebound in demand for weeks and then the pendulum swings hard towards weaker than expected builds.