Re: IRAQ

thanks for the update.

Enron North America Corp.

From: Spencer Vosko 10/25/2000 12:57 PM

To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: IRAQ

With regards to the situation in Iraq, we have close contacts with Bayoil,
who is the largest lifter to the US. They remain very bearish the market
,though they are sold out on their november arrivals they have a lot of
barrels available in december. They feel the Euro situation will be of small
impact and they are seeing business as usual for november loading. As a side
note they are normally right about the Iraqi situation but last year they did
have vessels waiting at Mina al Bakr when the Iraqis cancelled loadings. I'll
let you know if they change their tune.