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Technology Stocks : Discuss Year 2000 Issues -- Ignore unavailable to you. Want to Upgrade?

To: Eski who wrote (3175)	1/7/1999 2:33:00 PM
From: Eski	Read Replies (1) \| Respond to of 9818

Natural Gas, Oil Industries Preparing for Y2K Latest API News Release api.org Natural Gas, Oil Industries Preparing for Y2K WASHINGTON--The oil and natural gas industries have every reason to believe they will successfully resolve any mission-critical Y2K issues and will continue to deliver oil and natural gas safely and reliably, officials said today. At a news conference to discuss the two industries' progress just 376 days before Jan. 1, 2000, officials from the American Petroleum Institute and the Natural Gas Council said that more than half of their companies are in the final stages of remediating and testing their systems to ensure their readiness for Y2K. The officials also said they are encouraged by strong statements by industry analysts, who note that it is likely the industries will be Y2K compliant. Moody's Investors Service also has pointed out that the energy industry is less vulnerable to Y2K code problems because it is less-dependent on date-sensitive data for operations systems and that the oil and gas industries have manual overrides as backups for most operations. All segments of the oil and natural gas industries—production, transmission and distribution—are working together on the issue, and are coordinating with the electric utility and telecommunications industries to prepare for the 2000 date change. The industries are planning two major meetings in January. Anyone in the oil or natural gas industries wanting updates on the status of the industries' Y2K work may send an e-mail indicating interest in periodic Y2K updates to Kendra Martin, American Petroleum Institute, at y2k@api.org or to the Natural Gas Council at cforeman@ingaa.org. For additional information, please contact Susan L. Hahn at 202/682-8118