Another story on inversions in the oil supply, apearing rather soon after Rollover -- this release on the downstreamer forum, indicates that Azerbaijan, which histrocially produces 180,000 barrels of crude a day, evidently cannot get enough out of the ground, or else enough crude converted into fuel oil, to keep its own oil-fired electrical generators going, and so is looking to import. Power supplies rationed to 13 hr/day.

Propsective suppliers are waiting to hear how Azerbaijan proposes to pay for oil imports.

SORRY no link. I hope one of the regulars will do us the courtesy.

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-- Squirrel Hunter (nuts@upina.cellrelaytower), February 10, 2000

Answers

Well, this news is reflected in the price of a BBL of oil, which is up .70 to 29.50.

But, as we have been told....none of this is y2k related.

Southside Ed

-- Southside Ed (back@home.fornow), February 10, 2000.

EXUUUUSE ME...They USE to produce 1/2 the worlds oil?!.. O.K. you oil hounds, was this last month or a year ago? Wouldn't that be an important tidbit to add to this story? Also, they want to "swap or barter" for oil? Isn't this what you are suppose to do with extra beans and toilet paper not millons of barrels of oil?!?!?

JT

-- JT (JT@aol.com), February 10, 2000.

With the whole country eating beans couldn't they just switch to natural gas?

-- Shoo (flyonthewalls@yahoo.com), February 10, 2000.

Just last week, BP Amoco announced it had encountered
hydrocarbons at its key Shakh Deniz test well, seen as
vital to future investor confidence in the country.

Since 1994, Azerbaijan has signed 19 deals worth some $50
billion in potential investment with major oil firms like
BP Amoco, Exxon and Mobil to develop energy reserves.
Azerbaijan oil 1999-06-01

Statoil officials said Azerbaijan still will
be one of the top investment areas for the
company this year with the exploration budget
over $30M.
Pipeline meetings in January 2000-01-31

Natik Aliev, who is president of Azerbaijan's
state oil company SOCAR, told journalists in Baku
that Azerbaijan may have to import crude oil to
refine into fuel oil for use in oil-fired power
stations.
Azerbaijan Faces Energy Crunch 2000-02-01

-- spider (spider0@usa.net), February 10, 2000.

By the way, all this puts pressure on the new Soviet Union president (excuse me, Russian president) to continue to put military and economic pressure on the former states in the USSR.

These "former" oil exports were the primary source of outside money to whole Russian economy. Add that to the Siberian oil, Siberian gold and mineral wealth, and Russian natural gas exports to Europe..and you have almost all of their net income being threatened now.

And the Communiist military and crime lords (who controlled the old Soviet union (USSR) aren't going to stand for losing their "real" money for long.

-- Robert A. Cook, PE (Marietta, GA) (cook.r@csaatl.com), February 10, 2000.