COMMODITY / ENERGY BRIEFS

COMMODITY / ENERGY BRIEFS

2 MEN FACE CHARGES

IN FRAUDULENT OIL SALE

HOBBS, N.M. - Two men have been accused of engineering a scheme to get paid for oil that didn't exist.

Dennis Ray Dickerson, 38, of Hobbs, and Dennis Morgan of Velma, Okla., were arrested in August on charges of fraud and conspiracy to commit fraud in excess of $20,000.

Mr. Dickerson turned himself in to authorities last weekend and posted a $25,000 bond. Mr. Morgan was arrested in Velma.

The arrests came after the Lea County Sheriff's Department and other law enforcement agencies investigated allegations that Texas-New Mexico Pipeline Co., a Texaco subsidiary, was defrauded of about $1 million over the past year.

The men, both in the business of purchasing crude oil, used Texas-New Mexico Pipeline facilities to transport their oil across state lines to the end user.

N. KOREA, GROUP AGREE

ON SITE OF REACTOR TALKS

SEOUL, South Korea - North Korea and the international consortium formed to provide it with light-water nuclear reactors have agreed to meet Sept. 14-15 in the border truce village of Panmunjom, a South Korean media report said, according to the Kyodo news wire.

The Korean Broadcasting System (KBS), reporting from Washington, quoted sources close to Korean affairs and the U.S. government.

The Korean peninsula Energy Development Organization (KEDO) is expected to be represented at the talks by the United States, South Korea and Japan, the three principal parties in the consortium, while North Korea will be represented by Kim Jong U, chairman of the Committee for the Promotion of External Economic Cooperation.