The Oil Daily articles from May 2003

The Oil Daily archives from May 2003

Kerr-McGee Seeks Critical Mass for New Gas Hub in Atwater Valley.
May 1, 2003... Kerr-McGee said Wednesday it will drill a couple of deepwater exploration wells in the Atwater Valley area of the Gulf of Mexico later this year with a view to obtaining the critical mass needed to establish a new hub for gas production. ...

Oil Futures End Six-Session Fall on Comments by Opec Official.(Industry Overview)
May 1, 2003... Crude futures in New York ended a six-session slide on Wednesday after Opec President Abdullah al-Attiyah said that he is "very concerned" about the recent fall in global oil prices. A smaller-than-expected build in crude inventories also...

EnCana Seeks Refining Partnership to Process Heavy Oil.
May 1, 2003... NEW YORK -- EnCana of Canada is in "ongoing discussions" with refining companies about a partnership to process heavy oil from its bitumen projects, according to Roger Biemans, executive vice president in charge of US operations. EnCana...

Refiner Tesoro Continues Profits Trend; Sunoco Buys El Paso Unit.
May 1, 2003... The string of strong profits for independent refiners continued Wednesday as San Antonio-based Tesoro Petroleum said its net income hit $20.4 million (32cents per share) in the first quarter. Over the past week, rivals Valero and Sunoco...

Cheniere's Souki Outlines LNG Import Strategy for Investors.(Cheniere Energy)
May 1, 2003... NEW YORK -- Determined to capitalize on what he sees as a 10 billion cubic feet per day liquefied natural gas (LNG) import market in the near future, Charif Souki, chairman of Houston-based exploration and production company Cheniere Energy,...

Targa Resources, Investment Bank Going After Gas Assets.(Illustration)
May 1, 2003... HOUSTON -- Another investment bank is getting into the midstream natural gas business, in partnership with two veteran executives from the sector. Warburg Pincus is joining forces with newly formed Targa Resources of Houston to pursue...

Petroecuador Slashes Planned Investment Budget.
May 1, 2003... In keeping with the government's call for austerity, Ecuador's state oil giant Petroecuador scaled back its 2003 budget by $85.8 million, casting doubts about the company's chances to meet its goal of boosting the country's declining output...

Iraqi Oil Production Exceeding 300,000 b/d, US Officials Say.
May 1, 2003... KUWAIT CITY -- Iraq's oil production has gone past the 300,000 barrel per day barrier, according to US military figures. Output in southern Iraq has now crept above the 200,000 b/d mark, most of which is being piped to the Basrah refinery...

Profits Jump for ConocoPhillips in First "Clean" Quarter.
May 1, 2003... With the lion's share of ugly merger-related expenses and special charges behind it, ConocoPhillips reported strong first quarter earnings on the back of high commodity prices and robust refining margins Wednesday, continuing the positive...

Daily Oil & Gas Price Review.(Illustration)
May 1, 2003... Daily Oil & Gas Price Review Prices for Wednesday, April 30, 2003 Light Sweet Futures -- Prompt Month ($/barrel) 1st 5-Day 2nd 3rd Chg Month Avg. ...

EIA Weekly Statistics.(Illustration)
May 1, 2003... Department of Energy Weekly Statistics For Week Ended April 25, 2003 Crude Oil: StocksCrude Oil: Production and Imports (millions of bbl)(Average, thousands of bbl) Current Previous ...

Ceci N'est pas Une Rose.(Brief Article)
May 1, 2003... Would El Paso Energy Partners by another name smell as sweet? Sweeter, hope the company's management, who plan to announce a name change May 1. The new name would allow the company to distance itself -- and its share price -- from the stigma...

Global Output Helps Noble.(Brief Article)
May 1, 2003... Noble Energy, an independent exploration and production company, on Wednesday said it swung to a profit in the first quarter, citing higher crude oil and natural gas prices and increased international production levels. Houston-based Noble...

Patterson Profits on Rig Demand.(Patterson-UTI)(Brief Article)
May 1, 2003... Patterson-UTI, the second-largest operator of land-based oil and natural gas drilling rigs in North America, on Wednesday announced a 46% jump in first-quarter earnings as demand for drilling services increased. Patterson, based in Snyder,...

NUI Earnings Cut by Charge.(Brief Article)
May 1, 2003... NUI, a natural gas distributor, said on Wednesday its quarterly earnings fell as a charge for an accounting change offset the benefit of higher gas sales during the winter months. NUI reported net earnings of $12.2 million (76cents/share)...

Charges Hurt Cabot's Q1.(Cabot Oil & Gas)(Brief Article)
May 1, 2003... Houston-based independent Cabot Oil & Gas on Tuesday reported a first-quarter loss as the company was hurt by charges due to liquidating a partnership in a Texas field and an accounting change. For the first quarter, Cabot recorded a net...

OGE Narrows Q1 Loss.(OGE Energy)(Brief Article)
May 1, 2003... OGE Energy, a utility, gas pipeline, and marketing company, on Wednesday reported a narrower quarterly net loss due in part to better performance at its Enogex natural gas pipeline and energy marketing unit. The company, based in Oklahoma...

Remington Makes Offshore Finds.(Remington Oil and Gas)(Brief Article)
May 1, 2003... Independent producer Remington Oil and Gas on Tuesday reported two new offshore discoveries and gave increased production guidance for the second quarter. Dallas-based Remington recently completed testing operations at the West Cameron 428...

Harken Makes Colombia Find.(Harken Energy)(Brief Article)
May 1, 2003... Houston-based exploration and production company Harken Energy said Tuesday that its international operating subsidiary, Global Energy Development, has perforated and tested its Cajaro #1 well on Global's Cajaro Association Contract in...

Abraham Meets in Mideast Gulf.(U.S. Secretary of Energy Spencer Abraham)(Brief Article)
May 1, 2003... As the US and its allies discuss the future of Iraq and its oil, Secretary of Energy Spencer Abraham traveled to the region this week, meeting with Qatari, Saudi, and Opec officials. Abraham met with influential Saudi oil minister Ali...

El Palito Exports Gas to US.(Brief Article)
May 1, 2003... Venezuela's 130,000 b/d El Palito refinery is scheduled to dispatch a shipment of unleaded gasoline to the US by early Saturday morning, refinery officials told Oil Daily. This would be the first shipment of gasoline since El Palito was...

Petrobras Makes Major Gas Find.(Brief Article)
May 1, 2003... Brazil's state-controlled oil giant Petrobras announced Wednesday the discovery of a major offshore natural gas field located in the Santos Basin, which is expected to boost the country's modest reserves by 30%. Reserves of 400 million boe...

Pemex Drills Near Veracruz.(Pemex Exploration and Production)(Brief Article)
May 1, 2003... Pemex Exploration and Production announced over the weekend that it would drill 11 new exploratory wells near the coasts of Veracruz and Tabasco, along the southern rim of the Gulf of Mexico. Drilling will begin in May, with seven of the wells...

Pebercan Smoking in Cuba.(Brief Article)
May 1, 2003... Montreal-based oil company Pebercan is certainly smoking away in Cuba, where it more than doubled production last year from its Block 7 joint venture to 14,298 b/d from 6,677 b/d in 2001, the company said Wednesday. That resulted in a near...

Atlantic LNG Starts Third Train.(liquefied natural gas)(Brief Article)
May 1, 2003... Astounding Atlantic Basin consumers of liquefied natural gas (LNG) once again, Atlantic LNG, the Trinidad and Tobago based supplier, announced Wednesday the start-up of its third 3.3 million ton train three months ahead of schedule. This...

Colonial Wins Green Award.(Colonial Pipeline)(Brief Article)
May 1, 2003... Colonial Pipeline received an environmental and community outreach award from the American Petroleum Institute (API) earlier this week. The Distinguished Safety and Environmental Performance award is given to the company with the best...

Record Upstream Profits Fuel Exxon's Q1 Bonanza.(Exxon Mobil Corp.)
May 2, 2003... Record upstream earnings fueled robust first-quarter profits for Exxon Mobil, as the world's largest publicly traded oil company capitalized on crude oil prices that were at historical highs and strong natural gas prices, in addition to a...

KBR Team Assessing Iraq's Northern Fields.(Kellogg, Brown and Root)
May 2, 2003... KIRKUK, IRAQ -- A team from US Halliburton subsidiary Kellogg, Brown and Root (KBR) on Thursday started assessment work at Iraq's northern oil fields, as part of a contract the company holds with the US military, a KBR official told Oil Daily...

EIA: Gasoline Pump Prices Seen Moving Lower into Summer.(Energy Information Administration)
May 2, 2003... WASHINGTON -- The recent decline of retail gasoline prices may force the US government to lower its price projections for this summer, Energy Information Administration (EIA) Director Guy Caruso said Thursday. Speaking at press conference...

Crude Futures Edge Higher Thursday in Thin Holiday Trading.(Brief Article)
May 2, 2003... Oil prices edged higher on Thursday, in thin trading, with earlier comments from Opec ministers and builds in inventories seen as supporting prices. Front-month crude on the New York Mercantile Exchange (Nymex) closed at $26.03 per barrel,...

Kirkuk Production Ramping Up While Awaiting Refinery Restart.
May 2, 2003... KIRKUK, IRAQ -- Crude oil production from Iraq's northern Kirkuk oil complex has been ramped up to 60,000 barrels per day this week and is likely to rise to at least 130,000 b/d once the first crude oil unit at the Baiji refinery becomes...

US-Russia Relations Strong Despite Differences Over Iraq.
May 2, 2003... WASINGTON -- Despite differences over the war with Iraq, relations between the US and Russia about postwar Iraq or cooperation on energy issues will not be affected in any significant way, top Bush administration officials told a Senate panel...

Murphy Oil Readies for Active Drilling Program Offshore Malaysia.
May 2, 2003... Murphy Oil is about to begin an active drilling program offshore Malaysia in an attempt to assess the potential of a massive deepwater area discovered last year. El Dorado, Arkansas-based Murphy announced the Kikeh oil discovery last July....

Newfield Makes Its Sixth Deep Shelf Gas Discovery in the Gulf.(Newfield Exploration Co.)
May 2, 2003... Newfield Exploration announced its sixth deep shelf gas discovery in the Gulf of Mexico on Thursday, saying it may have found more than 50 billion cubic feet with a well drilled in 30 feet of water less than 10 miles off the Louisiana coast....

Iraq's Rumaila Field Creeps Back to Life as Oil Workers Return.
May 2, 2003... SOUTH RUMAILA -- As production from Iraq's giant Rumaila oil field creeps up and surrounding installations creak back to life, inhabitants of this desolate region near the Kuwaiti border share two overriding desires. The first is a swift end to...

Daily Oil & Gas Price Review.(Illustration)
May 2, 2003... Daily Oil & Gas Price Review Prices for Thursday, May 1, 2003 Light Sweet Futures -- Prompt Month ($/barrel) 1st 5-Day 2nd 3rd Chg Month Avg. ...

EIA Gas Storage Report.(stocks of working natural gas in US storage facilities, week ended April 25, 2003)(Brief Article)(Illustration)
May 2, 2003... Gas Storage Rises 57 Bcf Stocks of working natural gas in US storage facilities rose 57 Bcf for the week ended Apr. 25, leaving storage levels at 741 Bcf, according to the Energy Information Administration (EIA). The reduction left the...

Stock Market Scorecard.(Oil industry companies' stock prices tabulated, May 1, 2003, US)(Illustration)
May 2, 2003... Stock Market Scorecard Close 1-Day. % Chg. May 01 Chg. % Chg. 10-Day 52-Wk YTD Integrated Majors Murphy Oil 42.94 ...

El Paso EP Becomes GulfTerra.(US)(Brief Article)
May 2, 2003... El Paso Energy Partners LP said on Thursday it would change its name to GulfTerra Energy Partners LP to help position the partnership as a stand-alone entity and distinguish it from pipeline operator El Paso. Houston-based El Paso Energy...

KeySpan Profits on Gas.(first-quarter 2003, US)(Brief Article)
May 2, 2003... Gas and power utility KeySpan said Thursday its first- quarter profit rose, helped by a gain from the sale of part of its stake in an energy production unit as well as colder winter weather that boosted demand for natural gas. Moreover,...

Sales Boost Remington Profits.(first-quarter 2003, US)(Brief Article)
May 2, 2003... Independent producer Remington Oil and Gas late Wednesday announced a large increase in first-quarter profit, boosted by a 119% upsurge in oil and gas sales revenue. For the quarter, Remington reported net income of $11.7 million...

Charges Trim Oneok's Income.(first-quarter 2003, US)(Brief Article)
May 2, 2003... Natural gas company Oneok on Wednesday said first-quarter profit fell due to accounting changes, but earnings from operations surged on higher natural gas prices and increased demand. The Tulsa, Oklahoma-based company recorded charges for...

Denbury's Profits Soar.(first quarter 2003, US)(Brief Article)
May 2, 2003... Independent oil and gas company Denbury Resources on Thursday said its first-quarter earnings increased nearly five-fold as higher commodity prices and record production levels drove revenue up 56%. Dallas-based Denbury posted earnings for...

Record Output Boosts Houston.(Houston Exploration financial results, first-quarter 2003, US)(Brief Article)
May 2, 2003... Houston Exploration on Thursday posted a sharp spike in first-quarter earnings as high gas and oil prices coincided with record daily production levels. For the first quarter of 2003, Houston had net income of $41.7 million ($1.34/share),...

Drilling Boom Helps Precision.(financial results, first-quarter 2003, Canada)(Brief Article)
May 2, 2003... Precision Drilling, Canada's biggest oil-field service company, said Thursday first-quarter profit jumped 27% due to a drilling boom at home and gain on the sale of assets. Precision said it expects results to strengthen further this year...

Boots & Coots Misses Deadline.(fails to file proxy statement, US)(Brief Article)
May 2, 2003... Boots & Coots International Well Control, the troubled oil well firefighter, on Thursday said it missed the deadline for filing its proxy statement with federal securities regulators because of personnel problems. Boots & Coots, which...

EPA Sued on Ship Emission Rule.(by Bluewater Network, US)(Brief Article)
May 2, 2003... Dissatisfied with the Bush administration's new air emissions standards for large oil tankers, the Bluewater Network, a San Francisco-based conservation group, is back in court challenging the Environmental Protection Agency's (EPA) rule as...

DOD Loses Jet Fuel Case.(Phoenix Petroleum can claim compensation for underpayment, US)(Brief Article)
May 2, 2003... A federal judge on Wednesday cleared the way for Phoenix Petroleum Company to claim compensation for underpayment of jet fuel supplied to the Department of Defense. Senior Judge Lawrence Margolis of the US Court of Federal Claims...

Mirant Sells Gas Assets.(in Canada to Cargill Ltd.)(Brief Article)
May 2, 2003... Power company Mirant said on Thursday it sold the majority of its natural gas interests in Canada to Cargill Ltd. to reduce its debt by more than $200 million and strengthen its balance sheet. Specific terms of the transaction were not...

Williams Ups Transco Capacity.(Southeastern US)(Brief Article)
May 2, 2003... Natural gas producer and transporter Williams said Thursday it placed the first phase of a pipeline expansion into service in the Southeast, increasing capacity on its Transco system by 269 MMcf/d of natural gas. Williams said the first...

ChevronTexaco Off to Better Start in 2003.(first quarter 2003 earnings, US)
May 5, 2003... After a rough 2002, ChevronTexaco opened 2003 on a positive note by announcing its highest quarterly earnings since completing its merger in late 2001. Extraordinarily high oil and gas prices and a recovery in worldwide refining margins...

UN Members Push Iraqi Rebuilding Fund.
May 5, 2003... NEW YORK -- A new proposal designed to break the United Nations deadlock over who will control the rebuilding of Iraq would keep the UN in charge of supplying food and medicine to Iraqi citizens, while proposing the creation of a reconstruction...

Nymex, Brent Crude Futures End Week Little-Changed From Week Ago.(May 2, 2003, New York, New York, and London, England)
May 5, 2003... Crude futures in New York and London closed Friday at just about the same place they were a week ago. Crude for June delivery on the New York Mercantile Exchange (Nymex) closed Friday at $25.67 per barrel, down 36cents on the day. Nymex...

Sours Continue to Show Strength on US Gulf, West Coasts.(sour crude prices and demand)
May 5, 2003... Sour barrels were talked higher last week, with demand for the barrels picked up in a relatively tight US sour market as the market deals with the loss of Iraqi barrels. In recent sessions, while sours are gaining strength, sweets have...

Shell Shows Strong Q1 Profits on Refining, Marketing Strength.(Netherlands)
May 5, 2003... LONDON -- Royal Dutch/Shell on Friday finished off a week of bumper profits for the supermajors with a 96% rise in adjusted first-quarter earnings to $3.9 billion -- a quarterly record that comfortably beat analysts' expectations. ...

BLM Clears Way for Coalbed Methane in Powder River Basin.
May 5, 2003... The US Bureau of Land Management (BLM) issued a so-called final record of decision last week paving the way for the drilling of tens of thousands of new coalbed methane wells on federal land in the Powder River Basin of Wyoming and Montana. ...

Senate Begins Work on ANWR-Free Energy Bill This Week.(US)
May 5, 2003... A tussle between Republicans and Democrats seems inevitable when the Senate begins consideration of a comprehensive energy bill Tuesday, with members readying controversial amendments on issues such as ethanol use and climate change. But...

US Gas Market Conditions Support Push to Refill Storage.
May 5, 2003... If utilities plan an aggressive push to refill lagging storage inventories they will be hard-pressed to find a better time to make their move. Forecasts point to little weather demand ahead to compete with storage buying in major markets and,...

Daily Oil & Gas Price Review.(data for May 2, 2003, US)(Illustration)
May 5, 2003... Daily Oil & Gas Price Review Prices for Friday, May 2, 2003 Light Sweet Futures -- Prompt Month ($/barrel) 1st 5-Day 2nd 3rd Chg Month Avg. Month...

Baker Hughes Drilling Report.(number of active oil rigs, week ended May 2, 2003, US)(Brief Article)(Illustration)
May 5, 2003... US Rig Count Rises 15 The number of rigs searching for oil and gas in the US rose by 15 to 1,001 for the week ended May 2, according to Baker Hughes. A year ago there were 776. The number of rigs searching for oil fell by 5 to 174 and...

Canadian Gas Storage.(data for week ended April 25, 2003, Canada)(Brief Article)(Illustration)
May 5, 2003... Canadian Enerdata reported that the amount of natural gas in Canadian storage facilities rose 9.9 Bcf to 92.5 Bcf for the week ended Apr. 25. Storage caverns are 19.1% full, up from 17.1% full one week ago, but down from 50.0% full a year ago....

Stock Market Scorecard.(Petroleum companies' stock prices, May 2, 2003, US)(Illustration)
May 5, 2003... Stock Market Scorecard Close 1-Day. % Chg. May 02 Chg. % Chg. 10-Day 52-Wk YTD Integrated Majors Total Fina Elf 68.63 +2.55 ...

Dynegy EP Pulls Shelf, IPO.(US)(Brief Article)
May 5, 2003... Dynegy Energy Partners LP, formed by energy trader Dynegy to distribute and market natural gas liquids, on Friday canceled plans to go public. The Houston-based parent company also told US securities regulators it has decided to withdraw a...

Carrizo Reports Higher Q1.(2003, US)(Brief Article)
May 5, 2003... Houston-based producer Carrizo Oil & Gas on Friday said revenues increased 165% over last year, due to increased oil and natural gas prices. For the first quarter, Carrizo reported net income of $2.7 million (19cents/share), on revenue of...

Refiner Frontier Posts Loss.(first quarter 2003, US)(Brief Article)
May 5, 2003... Despite a nearly 50% jump in revenue, Houston-based Frontier Oil reported a loss in the first quarter because of losses associated with its El Dorado Refinery. Frontier said its loss totaled $3.7 million (14cents/share) compared with...

Plains Posts Strong Q1.(2003, US)(Brief Article)
May 5, 2003... Independent energy company Plains Resources reported increased earnings on Friday, boosted by higher oil and natural gas prices. Houston-based Plains reported net income of $7.3 million (28cents/share) for the first quarter compared to net...

Grant Prideco Earnings Jump.(first quarter 2003, US)(Brief Article)
May 5, 2003... Driller Grant Prideco reported a stronger first quarter Friday, boosted by higher revenue in the tubular and technology segments of the company. The Houston-based company said first quarter net income totaled $4 million (3cents/share) on...

Iraq Boosts Boots & Coots.(first quarter 2003, US)(Brief Article)
May 5, 2003... Boots & Coots International Well Control on Friday reported increased first quarter earnings, boosted by the service activity and equipment sale in Iraq. The Houston-based oil well firefighter said net income for the first quarter was $3.3...

ANS April Output Slips on Heat.(Alaska North Slope, oil production)(Brief Article)
May 5, 2003... Alaska North Slope (ANS) crude oil production averaged 989,000 barrels per day in April according to data from the state's Department of Revenue Tax Division. That was 35,000 b/d lower than March output and 56,000 b/d below the year...

EU Official, Abraham Meet.(European Union, US Energy Secretary; energy supply meeting, hydrogen)(Brief Article)
May 5, 2003... EU Energy and Transport Commissioner Loyola de Palacio on Friday held further talks with Secretary of Energy Spencer Abraham Friday on energy supply security. High on the agenda at the Madrid meeting was hydrogen. "Hydrogen is one of...

Nigerians Release Hostages.(striking Nigerian oil workers, foreign hostages)(Brief Article)
May 5, 2003... Striking Nigerian oil workers agreed Friday to release nearly 100 foreigners held on four offshore rigs for more than two weeks, a union official said. In Britain, two planeloads of former British special forces teams set off for Nigeria...

Pemex Moves on Natgas Projects.(natural gas infrastructure projects, Mexico)(Brief Article)
May 5, 2003... Mexico is moving forward on a crucial step towards a true natural gas market -- physical infrastructure. Pemex head Raul Munoz Leos said last week that Pemex will complete within five months three gas infrastructure projects, to complement a...

ChevronTexaco Faces Pollution Suit.(Ecuador, Amazon region)(Brief Article)
May 5, 2003... ChevronTexaco this week will begin its defense in a costly legal battle in Ecuador against accusations it has caused billions of dollars in damage by polluting portions of the country's Amazon region, the company said. The suit, which was...

Crosstex Buys Natgas Assets.(Crosstex Energy, Duke Energy Field Services; US natural gas assets)(Brief Article)
May 5, 2003... Crosstex Energy, a Texas-based midstream natural gas company, on Friday said it agreed to pay more than $66 million to buy a package of assets in Mississippi, Texas, Alabama and Louisiana from Duke Energy Field Services. The transaction is...

Iraqi Oil CEO Seeks Interim Production Targets.(Thamer al-Ghadban)
May 6, 2003... BAGHDAD -- The new chief executive of the Iraqi oil sector, Thamer al-Ghadban, issued instructions to his staff Sunday to draw up an accelerated plan setting oil production targets for an interim period of several months. In an interview...

Experts Skeptical of Iraqi Oil Production Goals.
May 6, 2003... WASHINGTON -- Oil experts speaking at an Iraqi reconstruction conference here Monday were pessimistic of quickly bringing Iraqi oil production back to normal levels of roughly 2.5 million barrels per day, not to mention the 3 million b/d target...

Crude, Product Futures Move Higher Monday in Technical Rebound.(Brief Article)
May 6, 2003... Crude and product futures on Monday jumped from five-month lows seen last week, in a move considered by some traders to be a technical bounce related to last week's over-sold market. On the New York Mercantile Exchange (Nymex), front-month...

Citgo Nets $140M in First Quarter as Refining Margins Doubled.
May 6, 2003... Strong refining margins put Venezuelan-owned Citgo in the black in the first quarter, despite a prolonged strike at parent company Petroleos de Venezuela (PDV). Citgo is widely expected to provide the cash for $500 million in senior notes due...

First-Quarter Earnings Drive Oil and Gas Shares' Momentum.
May 6, 2003... As earnings reports tumbled in last week, energy shares gained and lost on quarterly results, with the majority of oil and gas producers showing positive results as commodity prices sustained much higher levels over the year-ago quarter. ...

End to War in Iraq Spurs Equity Market -- But Not Oil Shares.
May 6, 2003... The effective end to major combat operations in Iraq in April led to big gains for global equity markets, however leading oil and gas shares largely were left out of the resurgence. A quick resolution to the conflict in Iraq finally removed...

UK Energy Minister Outlines Incentives for North Sea Exploration.(UK Energy Minister Brian Wilson)
May 6, 2003... HOUSTON -- With the North Sea maturing in much the same way as the Gulf of Mexico, UK regulators are revising their policies to encourage producers to make the necessary investments to maintain oil and gas output, UK Energy Minister Brian...

Challenges Face Iraqi, British Efforts to Restore Basrah Refinery.
May 6, 2003... BASRAH -- The challenges of getting Iraq's oil industry back on its feet after years of neglect and decay are encapsulated at the Basrah refinery which stuttered back into action last week and is now working at around half its 140,000 barrel...

MMS Wants to Expand Eligibility for Natural Gas Incentives.(Minerals Management Service)
May 6, 2003... HOUSTON -- A handful of recent big natural gas discoveries in the Gulf of Mexico and a tweaking of an incentive program recently proposed by the Minerals Management Service (MMS) may help reverse -- or at least slow -- the rapid pace of...

Rodriguez Says Petroleos de Venezuela Output is Back on Track.
May 6, 2003... HOUSTON -- An all-out effort has enabled Petroleos de Venezuela (PDV) to return oil production to the level it stood at before the company was hit by a strike in December that nearly closed down its operations, PDV President Ali Rodriguez said...