QUESTION: PDVSA have come in with the following FOB indication. This does mean, however, that we must find our own vessel. I had a conversation with PDVSA regarding the FOB price which they are not inclined to lower at this moment. The FOB price isn't that bad considering alternative sources. quote SUZANNE, WE HEREBY CONFIRM AVAILABILITY OF 8,500 MT OF HD5 EX-JOSE OCTOBER 22 - 24, 2001. AT THIS TIME WE DO NOT HAVE TONNAGE TO EXECUTE THE TRANSPORTATION. RESULTING TRANSACTION WOULD BE ON FOB BASIS. PRICE: MEAN MTB NTET C3 + 3 CPG. BL +/- 1 DAY. OTHER TERMS AND CONDITIONS AS PER LAST. GRATEFUL YOUR COMMENTS. GONZALO PARIS unquote There are not a lot of vessels out there at the moment. Geogas' vessel cannot make it until November. Maersk has a vessel and is willing to do the voyage on our dates for $.04 per gallon. The laytime is the only problem as they will only give us 66 hours (they started at $26/mt and 60 hrs). PDVSA should take no more than 24 hrs, which leaves 42 for discharge at ProCaribe. We have the vessel on subs until 9:00 am Houston time tomorrow. Please advise your comments. Best regards,
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ANS: October Supply

QUESTION: Justin, Per the email below, before we respond to Glencore we just wanted to make sure that you haven't made any agreements with Glencore with respect to choice of law for the online trades that would subject them to UK law. I don't want to talk to them without checking with you first since this is one of the true counterparties that we are trading with on both sides of the Atlantic. By the way, I heard you had some really good news. I'm so happy for you!
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ANS: EOL Trades with Glencore Commodities Limited

QUESTION: Jeff - I will be briefing Jim Steffes with the monthly, EES/ENA update tomorrow afternoon. I have attached the Sept. 5th report from the WSCC group below. Would you please assist me by either adding new projects to the list, or by letting me know if there are any updates that he should be aware of. Thanks so much for your help. Thanks,
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ANS:
Monthly Updates