Fadel Gheit Year Quotations

Operationally they exceeded expectations in terms of production; their production volume was up significantly from year ago.

Oil prices have been exceeding the most bullish forecasts for the past year and a half, and that's not driven by industry fundamentals, but largely by speculation and fears of a potential supply disruption,

With the right investment environment and under the right government, Iraq could increase production by a million barrels a day every year for the next 10 years, ... It could be the largest oil exporter in the world, eclipsing Saudi Arabia.

We are entering the lowest demand period of the year sitting on huge levels of inventories.

Given the current market fundamentals we expect average prices for both oil and gas this year to be significantly above 2005 record levels. As a result, we expect 2006 earnings to be above 2005 record levels.