Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Tomas who wrote (1126)	6/1/1999 9:24:00 AM
From: Tomas	Read Replies (2) \| Respond to of 2742

KHARTOUM, June 1 (Reuters) - Sudan has started pumping oil through a new pipeline in Western Kordofan state, about 850 kilometres (530 miles) southwest of Khartoum, state Radio Omdurman reported on Tuesday. It said President Omar Hassan Al-Bashir pushed a button at Heglig oilfields in Western Kordofan State to inaugurate the 1,600-km (1,000-mile) 28-inch pipeline to the Red Sea on Monday. Hassan Eltom, director general at the Energy and Mining Ministry, said last month the first oil export shipment could leave the marine terminal in July or August. The southern rebel Sudan People's Liberation Army has vowed in the past to halt oil exports and says oil installations are legitimate targets in its 16-year-old struggle with the north. The pipeline, with a capacity of 250,000 bpd, was built by the Greater Nile Petroleum Operating Company, a consortium of Chinese, Malaysian, Canadian and Sudanese companies with concessions in the Unity and Heglig areas. Bashir, accompanied by two former military rulers, Jaafar Nimeiri and Abdul-Rahman Swareddahab, thanked the foreign workers who constructed the pipeline and said Sudan's doors were open to foreign investment in the petroleum sector. Eltom has said completion of the pipeline would spark new interest by foreign oil companies in Sudan, but U.S. sanctions were likely to deter American companies such as Chevron which invested heavily in the exploration starting in the 1970's. The United States has imposed economic sanctions on Sudan, accusing it of supporting international terrorism and abusing human rights. The Islamist-led government denies the charges.