|
|
Enron Mail |
Brent (and Neve and Bill),
I want to be perfectly clear in understanding this trade, and where/who is managing the risks. Jeff -----Original Message----- From: White, Bill Sent: Wednesday, June 06, 2001 6:53 PM To: Murphy, Ted Cc: Shankman, Jeffrey A. Subject: FW: New GFU oil volumes Ted, looks like the deal may/will be hedged on Thursday. They indicate that part of the oil may be offset with an existing accrual position (can't remember whether this magic was with train 1 or 2). Two questions: 1) is this being signed off on by accounting, and 2) I would like to make sure that the offset position is being "put to bed", ie that we are not going to find ourselves trading a long-term piece of crude against the UK gas group at some point in the future. Thanks for the help in advance. -----Original Message----- From: Ferguson, Matthew Sent: 06 June 2001 13:22 To: White, Bill; Clarke, Niamh Cc: O'Brien, Tony; Peter, Stewart; Murray, Anita; Foster, Maria Subject: FW: New oil volumes Bill Well, we are almost there, Statoil finally agreed our price today. Also, it looks like the oil volumes that we need to hedge will not be as large as anticipated due to an existing long accrual position at the Teesside gas plant. We will get the final amount that Transaction Support will let us apply to the Teesside position tomorrow morning and probably hedge the rest of it. The anticipation is that we will need to purchase between 30% and 50% from you all. Attached are the volumes for both scenarios (30% and 50%). If you can send over mid and offer prices for the two volumes, we will get a final number from TS and let you know how much we need to hedge in the morning. Thanks Matt -----Original Message----- From: Murray, Anita Sent: 06 June 2001 19:07 To: Ferguson, Matthew Subject: New oil volumes Matt, Please find attached a spreadsheet approximating the oil volumes based on the current forward USD/GBP FX rate & either a 33% or 50% hedge based on either of the two Train 1 scenarios. Regards Anita
|