Yes, Global agrees.


From: Stephanie Sever/ENRON@enronXgate on 04/24/2001 04:02 PM
To: Tana Jones/HOU/ECT@ECT, Kelly Lombardi/NA/Enron@Enron, Karen 
Lambert/HOU/ECT@ECT
cc: Lisa Lees/ENRON@enronXgate, Tom Moran/ENRON@enronXgate 
Subject: FW: Product Type approval for 2 product types (US Residual Fuel Oil 
1% and 3% Crack Spreads)

Tana/Kelly/Karen:

The product long descriptions below will fall under two new product types:  
   US Residual Fuel Oil 1% Crack Spread
 US Residual Fuel Oil 3% Crack Spread  
 
Credit (Tom Moran) has approved copying the profiles for the new product type 
from the following:

 US Oil HSFO Fin Swap

Please respond no later than 10 a.m. on Wednesday, April 25.

Thank you.


 -----Original Message-----
From:  Moran, Tom  
Sent: Tuesday, April 24, 2001 3:05 PM
To: Sever, Stephanie
Subject: FW: Product Type approval for 2 product types (US Residual Fuel Oil 
1% and 3% Crack Spreads)



 -----Original Message-----
From:  Moran, Tom  
Sent: Monday, April 23, 2001 1:08 PM
To: Lees, Lisa
Cc: Guidroz, Walter
Subject: FW: Product Type approval for 2 product types (US Residual Fuel Oil 
1% and 3% Crack Spreads)

Lisa,

Please copy the existing counterparty profiles from: &US Oil HSFO Fin Swap8 
and use it for these two new products:

US ResidOil Spd  NYH 1% Crack Spread
US ResidOil Spd  GC 3% Crack Spread      

Regards,
tm


 -----Original Message-----
From:  Walker, Chris  
Sent: Monday, April 23, 2001 12:17 PM
To: Blumenthal, Jeff; Musch, Susan; Hagelmann, Bjorn; Moran, Tom; Swinney, 
John; Taylor, Mark
Cc: Lees, Lisa; Sever, Stephanie; Jones, Tana; Lambert, Karen; Lombardi, 
Kelly; Sweitzer, Tara; Kenne, Dawn C.; Moorer, Torrey; Meredith, Kevin; 
Lozano, Melba; Hunter, Larry Joe; Cass, Robert B.
Subject: Product Type approval for 2 product types (US Residual Fuel Oil 1% 
and 3% Crack Spreads)

Your approval is needed for the following 2 product types in Datamanager:

US Residual Fuel Oil 1% Crack Spread
US Residual Fuel Oil 3% Crack Spread

Please do not approve between the hours of 6 am and 11 am..

US ResidOil Spd  NYH 1% Crack Spread     Jun01           USD/bl/m

A US Residual Fuel Oil financial Swap Transaction with Enron North America 
Corp., under which the Seller pays a Floating Price and the Buyer pays the 
price submitted by Counterparty on the Website (the Fixed Price) in each case 
in respect of the Notional Quantity per Determination Period.  Each calendar 
month during the term of the Transaction will be a Determination Period. The 
Notional Quantity per Determination Period shall be the volume submitted by 
Counterparty on the Website.  The Payment Date(s) will be 5 business days 
after the Floating Price is determinable. The Floating Price shall be the 
Index for the relevant Determination Period.
The term of the Transaction shall be from the Effective Date of 01 Jun 2001 
to the Termination Date of 30 Jun 2001.
The Index for a Determination Period shall be the difference obtained by 
subtracting (i) the arithmetic average of the daily settlement prices for the 
prompt month NYMEX Light Sweet Crude Oil Futures Contract for each Pricing 
Date in such Determination Period from (ii) the arithmetic average of the 
mean of the daily quotations for No. 6, 1%S Max appearing under the heading 
"New York/Boston Cargo" in the section entitled "Product Price Assessments" 
for those issues of Platt's Oilgram Price Report published for each Pricing 
Date in such Determination Period. "Pricing Date" means, a day on which 
Platt's Oilgram Price Report is published and which is also a NYMEX trading 
day.
The price is quoted in US Dollars per unit of volume, which will be the 
Contractual Currency.
The unit of measure against which the price is quoted shall be Barrels per 
month and the quantity shown shall be in Barrels per month.

US ResidOil Spd  GC 3% Crack Spread      Jun01           USD/bl/m

A US Residual Fuel Oil financial Swap Transaction with Enron North America 
Corp., under which the Seller pays a Floating Price and the Buyer pays the 
price submitted by Counterparty on the Website (the Fixed Price) in each case 
in respect of the Notional Quantity per Determination Period.  Each calendar 
month during the term of the Transaction will be a Determination Period. The 
Notional Quantity per Determination Period shall be the volume submitted by 
Counterparty on the Website.  The Payment Date(s) will be 5 business days 
after the Floating Price is determinable. The Floating Price shall be the 
Index for the relevant Determination Period.
The Effective Date is 01 Jun 2001. The Termination Date  is 30 Jun 2001.
The Index for a Determination Period shall be the difference obtained by 
subtracting (i) the arithmetic average of the daily settlement prices for the 
prompt month NYMEX Light Sweet Crude Oil Futures Contract for each Pricing 
Date in such Determination Period from (ii) the arithmetic average of the 
mean of the daily quotations for No. 6, 3%S appearing under the heading "U.S. 
Gulf Coast Waterborne" in the section entitled "Product Price Assessments" 
for those issues of Platt's Oilgram Price Report published for each Pricing 
Date in such Determination Period.  "Pricing Date" means, a day on which 
Platt's Oilgram Price Report is published and which is also a NYMEX trading 
day.
The price is quoted in US Dollars per unit of volume, which will be the 
Contractual Currency.
The unit of measure against which the price is quoted shall be Barrels per 
month and the quantity shown shall be in Barrels per month.

STEPS FOR APPROVAL:

click the  START button 
select  PROGRAMS
select  TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
 PROCEED WITH USUAL LOGIN/PASSWORD 
click the Enron Online Production Cluster "START" button  
select EnronOnLine (this is the EOL Datamanager)
 PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR  "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up 
TO APPROVE:  Right mouse click on "Approved"