Dana Petroleum, earning per share growth and prospective PE range 4 -6.5

Bomfin.... coincidence ???

Despite record high crude oil prices for 2003, U.S. oil demand topped 20 million barrels a day for the first time ever in the year, rising by 1.3%, the most since 1999.

Early data released Wednesday by the Energy Information Administration show consumption of gasoline and distillate fuel, comprising home-heating oil and diesel fuel, was the highest for any year.

Imports of crude oil set a volume record of 9.6 million b/d, up 5.2% from a year ago. Refiners processed more crude each day in 2003 than ever before, running at a rate of 15.286 million b/d, up 2.3% from a year earlier.

The EIA data measuring U.S. oil use through Dec. 26, also show company-held crude oil stocks ended the year at 270.7 million barrels, down 27.4 million barrels from the five-year average level. A review of EIA data show the figure would be the lowest end-year crude stocks since 1975.

found on rigzone......