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Enron Mail |
=20 UNITED WAY 2001 Building Houston's Future, Enron's 2001 United Way Campaign, officially beg= an Monday, August 6 and runs through August 17. Enron's goal this year is = $2.9 million and the EWS goal is $1,276,000. Enron will match every employ= ee's contribution dollar-for-dollar. The decision to focus this year's campaign on Building Houston's Future cam= e directly from our employees, who rallied to help Houston recover from the= flood damage caused by Tropical Storm Allison. Enron employees have expres= sed a strong desire to continue assisting those in need until our city full= y recovers and there's no better way than to give to the United Way, which = touches over 50% of the families on the Texas Gulf Coast. ON-LINE PLEDGING We are again using an on-line pledging system. Please click on https://hrg= lobal.enron.com to make your contribution and learn more about this year's = campaign. You will need your GIS ID (which is your "9..." number, not your = "P..." number) and password. If you are not sure what your ID and password= are, please go to https://ehronline.enron.com, click the "Accept" button, = and then click on "Forgot your User ID or Password?" If you have questions= regarding access, please call the HRGIM help desk at ext. 3-5666. Please make your electronic pledge no later than Friday, August 17. APPRECIATION LUNCH Rounding out this week's Days of Caring is an Appreciation Event today in A= ntioch Park from 11:30 a.m. - 1:00 p.m. Come celebrate the success of Days= of Caring, enjoy a free Chic-Fil-A lunch and watch a team of your coworker= s compete against the other business units by creating building block struc= tures that exemplify Enron attributes: Smart, Innovative, Bold, Ambitious, = and United. Jackie Martin, President of the United Way of the Texas Gulf C= oast, will join us in judging the structures. If you bring down the buildin= g blocks that were on your chair on Monday and donate them to our 2001 Adop= ted Agencies, you will be entered in a drawing for two free round-trip airl= ine tickets anywhere in the U.S. BUSINESS HIGHLIGHTS Enron Industrial Markets Enron Industrial Markets announced today that Ivan Boileau has been named g= eneral manager of Garden State Paper, its recycled newsprint mill in Garfie= ld, New Jersey. Ivan was formerly the assistant general manager of Enron's= Papiers Stadacona paper mill in Quebec City, where he was responsible for = pulping, paper machine operations and maintenance. Under Ivan's leadership,= Garden State Paper is expected to increase annual production, as well as p= roduce higher quality recycled newsprint at a lower cost. Enron acquired Garden State Paper in July 2000 and Papiers Stadacona in Apr= il 2001. The acquisition of both mills now positions Enron as the seventh l= argest producer of newsprint in North America. Enron began offering various= financial hedges to the Forest Products industry in 1997, and today is the= world's leading provider of customized financial risk management services = to both buyers and sellers of pulp, paper and wood products. In addition, E= nron provides capital services, inventory management and long-term fixed pr= icing contracts for physical product for up to 10 years. EIM Trading Enron Industrial Markets Middle Office has a busy six months ahead of it as= it works to ensure that the infrastructure is in place to handle the treme= ndous growth in the Industrial Markets Trading. Key milestones will be the= continuous improvement of customer service (both internal and external), t= he development/retention of team members, and the implementation of the fir= st phase of new systems focused on electronic trade capture, robust physica= l order management, and settlements. These milestones will be key to a str= ong finish in 2001 and being in a good position for the growth expected in = 2002. Enron Global Markets Got Sushi??=20 Enron Global Markets is seeking to fill a key trading position in our Japan= office. We are currently interviewing internal candidates to take the lea= d on our commodity trading activities in Tokyo, Japan. Tokyo is an excelle= nt arena for us to apply our business model and this is an opportunity for = you to add international value by applying your expertise in Enron commodit= y trading activities. The initial commodities that will be traded on the T= okyo Commodity Exchange (TOCOM) are gasoline, kerosene, naphtha, LPG and cr= ude. However, experience specific to these commodities and/or speaking Jap= anese are not requirements for the position. If you are interested in this= unique international opportunity, visit the TOCOM website at www.tocom.or.= jp. and contact Johnny Palmer of Enron Global Markets' recruiting at (713) = 853-4017 or johnny.palmer@enron.com EGM Fundamentals OPEC Producer Profiles Columbia University summer associates Majed Limam and Noha Kasrawi have pre= pared a birds-eye view of individual OPEC producers and the types of crude = they export. Working from public and proprietary information sources, they = offer readers background information, a description of each player's role w= ithin OPEC, the structure of its oil industry, breakdown of its exports and= synopsis of upstream, midstream and downstream sectors. Each country profi= le contains hyperlinks to crude assays and information on the marketing of = their crudes, as well as maps. The results of their research can be viewed = by selecting in-house analysis on the EGM Fundamentals webs site at: <http:= //egmfundy.corp.enron.com/crude/< Tracking Wholesale Gasoline If gasoline rack prices are on your mind, a recently completed database tha= t allows users to track gasoline 87 rack prices in eleven US cities, for bo= th branded and unbranded gasoline, should be just the thing. The final prod= uct, developed by EGM Fundy staffer Jim Cole and Columbia University summer= associate Majed Limam, gives a theoretical value for gasoline netback pric= es by subtracting tariffs and transportation costs from the average rack pr= ice for each city. The output is displayed in graphical form in excel, but= the major calculations and sorting occur in an Access database. The comple= te database is being updated continuously and will reside on the EGM Fundam= entals web site in the nearest future.=20 Worldwide Petchem Plant Shutdowns, Startups The EGM Fundamentals Petchems team has compiled a master list of petrochemi= cal plant shutdowns and startups worldwide from a wide variety of sources. = This information, sorted by region and compound, allows users to confirm or= anticipate changes in supplies impacting specific petchem markets. Updated= weekly, the full report is available under In-house Analysis at: <http://e= gmfundy.corp.enron.com/petchems/< IN THE NEWS Deregulation Pilot Launch Successful: The Texas Electricity Deregulation Pr= ogram pilot officially launched August 1 without a hitch. The pilot program= , which hinged on the conversion of the Electric Reliability Council of Tex= as' (ERCOT) 10 control areas to a single control room in Austin, was delaye= d for two months due to computer problems. ERCOT is slowly transferring cus= tomers to their new providers and expect to complete the conversion by the = end of August. The Texas electricity market will be fully deregulated on Ja= nuary 1, 2002. =20 WELCOME New Hires EGM - Brent Birdsong, Lyla Hall EIM - Kristen Blackwelder, Thomas Edgington, Stuart Kinder, Paul Condit, Ed= Rollins, Rodney O'Rourke ENA - Jorge Cruz, Greg McCracken, Sarah Zardowsky NUGGETS & NOTES EnronOnline Figures Below are the latest figures for EnronOnline as of August 7 * Total Life to Date Transactions < 1,295,000 * Life to Date Notional Value of Transactions < $ 750 billion Travel Tips Wrap-up Enron's Travel Web site=09=09=09travel.enron.com Travel Agency in the Park =09Phone number=09=09=09713-860-1100 =09After hours numbers =09Monday - Friday 6 PM- 10PM=09713-650-1333 or 1-800-962-0248 (option 3) =09Saturday-Sunday 9AM - 9PM=09 =09Emergency After Hours=09=091-800-448-7150 (member 45625775) =09Web site=09=09=09www.travelpark.com <http://www.travelpark.com<; Rental Car Contract Numbers =09Alamo=09=09=09=09 143974 =09National=09=09=09=095000838 Enron Toll Free Number=09=09=091-800-97-ENRON Enron Corporate Calling Card=09=091-800-96-ENRON Look Out Rockets, Here Come the Lot Lizards! The Downtown Met has a new basketball league. On Monday nights at the Met = you can watch the slam dunk action. There are two Enron teams and 8 from o= ther companies. One of the teams is Enron Freight Markets Team (secretly k= nown as the "Lot Lizards") They are undefeated at 2 and 0. Some of the pla= yers on the Lot Lizard team are Mike Keyser, Jason Beckstead (captain), Bry= an Robins, Mike Perun, Pat Twohy, Mike Arendes, Ken Jett, John Ashman, Jon = Sarley, and Peter Weinberger. Come cheer on the Lot Lizards as they contin= ue to hit shots at the buzzer and reverse ally-oops. These guys are great! NEWS FROM THE GLOBAL FLASH Gas TPA agreement signed in Spain Some very good news just in from Spain. Last week, Enron Espa?a Generaci?n= and Enagas reached a long-term agreement whereby Enagas will provide Enron= Espa?a Generaci?n with regasification and transport services of natural ga= s of approximately 1,7bcm annually between Huelva and our planned combined = cycle gas turbine plant at Arcos de la Frontera (Cadiz). The services will= begin in 2004, a date that coincides with our planned schedule for commenc= ement of operations for the plant. Well done to all the team. Enron launches derivatives for three new tanker freight routes in shipping = market Enron's tanker freight team has this past week increased their derivatives = portfolio (freight futures or 'swaps' of monthly contracts up to four month= s out) for three new tanker freight routes on EnronOnline. The tanker freig= ht derivatives will be benchmarked against published indices for the three = routes on the 'Baltic International' (BITRA) and International Independent = Tanker Rate Assessment (IITRA) exchanges to help ship-owners (including oil= companies), charterers, traders and even banks with exposure to the shippi= ng market, mitigate the volatility of the freight element of tanker voyages= traveling from Singapore to Japan (30,000 tonnes), the Caribbean to the US= Gulf (70,000 tonnes) and Rotterdam to New York (33,000 tonnes). Derivativ= es for the three routes will be managed out of the Singapore, Houston and L= ondon offices respectively. "Volatility of the tanker freight market has b= een as high as 62% on some routes," explains Scott Moncrieff, Enron's direc= tor of Liquids Freight Trading, based in London. "This has increased the i= mportance of freight in relative terms on most tanker routes"=20 "In nine months we have already traded more than 3 million tonnes of paper = freight, with a value of more than USD 14 million on the existing 80,000 to= nne Sullom Voe (North Sea) to Willemshaven (Germany) route, and we expect t= o achieve similar levels of interest on our three new routes. The tanker f= reight market is estimated to be worth more than USD 15 billion annually, a= nd with increased liquidity being brought to the sector because of more pla= yers entering the market there's plenty of opportunity for us to build our = business." The tanker freight team is also very heavily involved in the physical chart= ering of tanker vessels in Europe, The Americas, Arabian Gulf, Mediterranea= n, Far East and US West Coast, utilizing both the spot shipping market and = Enron-controlled 'time-charter' vessels. Nordic Pre-Pay Deal The Nordic origination team has closed their first municipality power pre-p= ay deal in the last week. This is the first deal to be completed based on a= financing structure that Enron Nordic Energy negotiated with Den Norske Ba= nk earlier this summer. The deal is an important reference for municipaliti= es that are interested in raising cash without selling their ownership in l= ocal power companies. Steel Products In March 2001 the European Steel Group commenced operations as an expansion= of the successful effort underway in North America. The group offers both= physical and financial commodity grade steel products and serves as the on= ly market-maker for a commodity market that is larger than that of crude oi= l. The mission is to introduce the concept of indexation and financial con= tract to an industry where price transparency and risk management are virtu= ally non-existent. Physical and financial contracts for hot rolled and col= d rolled steel are currently on offer via EnronOnline. Interest from Europ= ean producers and end-users is keen with the first financial transactions e= xpected to close by the end of Q3.=20 Since the team's inception they have successfully completed transactions wi= th counterparties in Kazakhstan, Egypt, and China amounting to nearly 50,00= 0 metric tonnes of steel. =20 Forest Products Enron's European Forest Products group is now trading physical market pulp = to complement the financial derivatives products already offered for the la= st 2 years, increasing the volume under contract by 30%.=20 Over the past six months, the group has recruited physical pulp traders to = handle its day-to-day physical pulp trading business. "We have sourced lon= g-term physical supplies of "market pulp" from around the world which will = complement the financial derivative products we have already been offering,= " explains Martin Holmes, Director of Enron's European Forest Product Opera= tions. By trading both physical and financial contracts, Enron is pioneering more = creative pricing in the industry by offering physical and financial cash an= d forward prices, as well as being the only market maker to quote longer da= ted swaps. The group is also actively looking at structured finance opportunities incl= uding a number of inventory deals. These opportunities have arisen as the b= enchmark pulp price for Northern Bleached Softwood Kraft (NBSK) has fallen = by 45% over the past 6 months, leaving producers with high levels of pulp i= nventory in warehouses. On 2nd July, the group launched the first standard contract for Bleached Eu= calyptus (BEK) pulp on EnronOnline, and is actively marketing to industry b= rokers to adopt the contract as the benchmark index for pricing. The contra= ct meets the commodity specifications of the BEK contract on the London Pul= pex futures exchange, where Enron is the only market maker for all pulp fut= ures contracts offered. Got a Great Idea for the EnTouch? Do you have great news you want everyon= e in EWS to know about? Something interesting going on in power and gas mar= kets? Or in industrial or global markets? Send your ideas to Kathie Grabst= ald via email or call x 3-9610. LEGAL STUFF The information contained in this newsletter is confidential and proprietar= y to Enron Corp. and its subsidiaries. It is intended for internal use onl= y and should not be disclosed. <Embedded Paintbrush Picture<
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