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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Shankman, Jeffrey A. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=JSHANKM< X-To: Whalley, Greg </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Gwhalle< X-cc: X-bcc: X-Folder: \GWHALLE (Non-Privileged)\Deleted Items X-Origin: WHALLEY-G X-FileName: GWHALLE (Non-Privileged).pst We're getting there. Jeff -----Original Message----- From: Fraser, Jennifer Sent: Sunday, September 30, 2001 6:18 AM To: Shankman, Jeffrey A.; Mcconnell, Mike Subject: Bloomberg story featuring EGM Fundamentals Analyst Matt Anderson Mike and Jeff : Here is a copy of a new article from Bloomberg which featured Enron and crude. I think both Andrew and Matt displayed exceptional professionalism. I also think this reflects well on our business unit. In addition to the story, I have included Andrew's directives on this matter. Jennifer -----Original Message----- From: Hill, Andrew Sent: Friday, September 28, 2001 2:27 PM To: Solis, Gloria Subject: All, Congratulations to Matt Anderson. Through building and developing a network of media contacts Matt has been quoted by a Bloomberg Journalist in a news article. Not only does this reflect well on Enron as a company, it also serves as a great reflection on the Fundamentals Group. Well done Matt. Portraying ourselves as a quotable and authoritative source will allow us to build credibility both internally and externally, so there is no reason why other groups cannot follow Matt's example. However, given the potential pitfalls we would like to use this as an opportunity to point out a few vital do's and don'ts in order to avoid potential problems. Do's Do think very carefully about what you say - your comments will be seen my the masses and will reflect on both you and Enron. Do pass your quotes and comments through your Line Manager who will approve them and get them certified by the Press Relations department - this is a company rule and something taken very seriously by Senior Management. Do Not's Do not comment on specific companies, Enron included. Do not, ever, give investment advice or stock recommendations. Not only is this company policy, it is also a legal requirement by the SFA. Do not say anything you don't believe implicitly or can't justify and back up both plausibly and convincingly. The text of the article can be found below :- Page 1 of 2 BN 09/27 Crude Oil Rises as OPEC May Reduce Production Later This Year Crude Oil Rises as OPEC May Reduce Production Later This Year Singapore, Sept. 28 (Bloomberg) -- Crude oil rose on speculation that OPEC might cut production at a November meeting if prices don't rally in the weeks ahead. The producers, after meeting yesterday in Vienna, left their output targets unchanged, though they've trimmed them by 3.5 percent this year as demand slipped from a sagging economy. Saudi Arabia is urging members to meet their quotas, which they exceeded by an estimated 3 percent in August. OPEC still may reduce production if prices stay low, Iran's oil minister said. ``The focus on compliance is an intermediate step between a cut and doing nothing,'' said Matt Anderson, an analyst at Enron Corp. in Houston. ``They want credibility as guardians of oil price stability, and don't want to be seen hurting the global economy.'' Crude oil for November delivery rose 36 cents, or 1.6 percent, to $22.74 a barrel on the New York Mercantile Exchange during floor trading overnight. It rose another 21 cents to $22.95 in after-hours electronic trading. Crude oil on Wednesday fell as low as $20.30 a barrel, the lowest since August 1999. Oil is still 17 percent below the level the day before terrorists attacked the U.S. on Sept. 11. Brent crude oil for November settlement yesterday fell 21 cents to $22.79 a barrel on the International Petroleum Exchange in London. ``Our credibility is only as good as the continuation of the effort among our member countries'' to meet their quotas, said Chakib Khelil, Algeria's oil minister and OPEC's president. The Organization of Petroleum Exporting Countries has an informal accord to cut supply if its price index stays below $22 for 10 consecutive days, though Saudi Arabia's oil minister, Ali al-Naimi, has indicated the group may not use that method for boosting prices. Al-Naimi said yesterday that OPEC members would seek to improve compliance with existing output targets as a means of boosting prices. Managing the Market ``We have a strong willingness to manage the market,'' Iranian Oil Minister Bijan Namdar Zanganeh told reporters after meeting with al-Naimi in Vienna. ``We think that the non-OPEC members should contribute with OPEC members to solve this situation.'' OPEC's goal is to keep the price of its oil index within a range of $22-$28 a barrel. The index was quoted at $20.11 yesterday. Excluding Iraq, the only member without a quota, OPEC -----------------------------====================------------------------------ Copyright © 2001, Bloomberg, L. P. Page 2 of 2 exceeded its September quota of 23.201 million barrels a day by 5.8 percent, according to PetroLogistics, a Geneva-based consulting firm. A Bloomberg survey early this month estimated that the producers were 3 percent above their goals in August. The 10 OPEC members exceeded their combined quota this month by 1.35 million barrels a day, said Conrad Gerber, president of PetroLogistics, which tracks oil shipments. The producers said they will meet again on Nov. 14. Venezuelan President Hugo Chavez called for a meeting of the heads of state of OPEC members to define a strategy to defend against slumping oil prices. ``We need to prepare another meeting,'' Chavez said late yesterday on returning from a trip to Colombia. ``We have to defend prices under any circumstances.'' OPEC heads of state met last year in Venezuela, their first summit since 1975. Venezuela in August was OPEC's third-biggest producer, after Saudi Arabia and Iran, according to Bloomberg estimates. Iraq was a close fourth. --Mark Shenk in the New York newsroom (212) 893-4331, or at mshenk1@Bloomberg.net with reporting by Alex Lawler and Stephen Voss in Vienna and Patrick Gordon in Caracas and Youngsam Cho in Singapore /wb/rb Story illustration: For a tour of crude oil prices in London and New York, see {CNP 08521810101 <GO<}. NI OIL NI NRG NI CMD NI NORTHAM NI INV NI US NI UK NI EUROP NI OPEC NI MIDEAST NI IRAQ NI ALGERIA NI UAE NI WAR NI AME NI OPEC NI SAUDI NI AFGHAN NI API -0- (BN ) Sep/28/2001 0:42 GMT -----------------------------====================------------------------------ Copyright © 2001, Bloomberg, L. P. ############################ END OF STORY 1 ##############################
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