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

To: Captain James T. Kirk who wrote (28312)	8/25/1998 5:17:00 PM
From: Gameboy	Read Replies (2) \| Respond to of 95453

Iraqi oil exports, revenues rise in latest week Tuesday August 25, 3:05 pm Eastern Time biz.yahoo.com An excerpt: For the week, there were 13 liftings of Kirkuk or Basrah Light crude, totaling 14.9 million barrels. The average price for those barrels was $10.00 per barrel, up from an average of $9.44 per barrel for the week ending Aug 14 and up from $8.66 per barrel for the week ending Aug 7, the U.N. report showed. Several important points from this article: 1) Iraqi's are commanding rapidly rising prices $8.66, $9.44, and $10.00 in the last three consecutive weeks - good news for those of us looking for higher crude prices. 2) As Iraq commands greater prices, Iraq is proportionately restricted on the quantity it can sell because its "oil for food" quota is based on revenue received - thus at $10.00/barrel Iraq's quota in barrels of oil to export is reduced by 15% - good news for those of us looking for less total worldwide production of oil. 3) Iraq at these higher prices will be able to produce more than the "oil for food" UN guidelines allows. Iraq is already raising a stink over weapons inspections and we contend they've already assisted terrorists in the production of bio-chemical weapons. We may be headed for a showdown with Iraq. Best of luck, Steve

To: Captain James T. Kirk who wrote (28312)	8/25/1998 11:57:00 PM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

Cap'n, BTW those occupied non-functional terminals in Nigeria are all in the Ibo portion of the Country....I told you that things are getting "hot" in Nigeria.....Gang the excess supply overhang in a market requiring 73mm bbls/day of crude is not all that large... only about 2.1mm bbls/day. Stay tuned.... Sincerely, Doug F.