The Oil and Gas Journal articles from January 2003

The Oil and Gas Journal archives from January 2003

Market movement. (News Letter).(OPEC, Venezuela oil production)
January 27, 2003... OPEC-9 under pressure to perform Even if both Iraq and Venezuela suffer serious disruptions to their respective oil production through the rest of this year, "crude prices would likely be in the $30-40(/bbl) range but would not 'go...

US integrated oil companies. (Industry Trends).(fourth quarter results expected to improve)
January 27, 2003... US INTEGRATED OIL COMPANIES' upcoming fourth quarter 2002 results are expected to improve on both a sequential and year-over-year basis, two analysts have forecast. UBS Warburg LLC issued a Jan. 15 research note outlining its fourth...

The International Energy Agency. (Government Developments).(Claude Mandil elected executive director)(Brief Article)
January 27, 2003... THE INTERNATIONAL ENERGY AGENCY's governing board has elected France's Claude Mandil as the agency's new executive director, effective Feb. 1, to replace Robert Priddle, who retired last year after 8 years at the post. Paris-based IEA is...

The 10-month standoff. (Government Developments).(British Gas PLC, Oil & Natural Gas Corp.)(Brief Article)
January 27, 2003... THE 10-MONTH STANDOFF between British Gas PLC and India's state-owned Oil & Natural Gas Corp. (ONGC) over operatorship of the Panna-Mukta and Tapti oil and gas fields, although still unresolved, appears headed for a compromise. BG has...

BP Pipelines Vietnam BV. (Production).(development of Nam Con Son natural gas fields)(Brief Article)
January 27, 2003... BP PIPELINES VIETNAM BV has started production from the $1.3 billion development of Nam Con Son natural gas fields off Viet Nam. The project includes development of Lan Tay and Lan Do gas fields on Block 06.1, with a steel production...

Euroil Ltd. (Development).(joint venture with Syntroleum Corp.)(Brief Article)
January 27, 2003... EUROIL LTD., a Cameroon-based, wholly owned subsidiary of the UK's BowLeven PLC, signed a joint venture agreement Jan. 14 with Tulsa-based Syntroleum Corp. to negotiate a joint production-sharing agreement with Cameroon for natural...

Matterhorn hull fabrication complete.(Matterhorn SeaStar tension leg platform for TotalFinaElf E&P USA)(Brief Article)
January 27, 2003... A completed hull, fabricated at the Singapore yard of Keppel Fels Ltd. for TotalFinaElf E&P USA's Matterhorn SeaStar tension leg platform, is prepared for loading onto a heavy lift transportation vessel for delivery to Pascagoula, Miss.,...

TrueNorth Energy Corp.(oil sands project development deferred)(Brief Article)
January 27, 2003... TrueNorth Energy Corp., Calgary, has deferred development of the Fort Hills oil sands project 90 km north of Fort McMurray, Alta., in part because of "escalating costs, challenging capital markets, and general uncertainty" about the potential...

Brazilian State Oil Company. (Exploration).(Petroleo Brasileiro S.A. completes tests on Caravela Sul discovery)(Brief Article)
January 27, 2003... BRAZILIAN STATE OIL COMPANY Petroleo Brasileiro SA (Petrobras) has completed oil production tests on the Caravela Sul discovery, said partner Coplex Petroleo do Brasil Ltda. Petrobras also announced that oil production from Coral field is...

Chiyoda-Foster Wheeler & Co. LLC. (LNG).(contract with Oman LNG L.L.C.)(Brief Article)
January 27, 2003... OMAN has awarded Chiyoda-Foster Wheeler & Co. LLC a contract for the detailed engineering, procurement, and construction of an LNG train at Qalbat, near Sur, Oman. The new train will be built next to the existing Oman LNG LLC complex,...

Lyondell-Citgo Refining LP. (Refining).(restarts second crude distillation unit, petroleum)(Brief Article)
January 27, 2003... LYONDELL-CITGO REFINING LP (LCR)--a joint venture of Houston-based Lyondell Chemical Co. and Tulsa-based Citgo Petroleum Corp.--reported that it has restarted its second crude distillation unit, which now is operating at 220,000-230,000 b/d....

Baku-Tbilisi-Ceyhan (BTC). (Pipelines).(security of petroleum pipeline, Central Asia)
January 27, 2003... CONCERNS ARE RISING over the security of the Baku-Tbilisi-Ceyhan (BTC) pipeline following increased threats to the project. Azerbaijan's Defense Minister Safar Abiyev told British government officials that Armenia's "aggressive policy"...

The Yemeni Government. (Tankers).(Nexen Inc., contract for monitoring systems, boats, and training against terrorist atttacks)(Brief Article)
January 27, 2003... THE YEMENI GOVERNMENT has signed a deal with Calgary-based Nexen Inc. for monitoring systems, boats, and training for coast guards to help thwart future terrorist attacks on oil tankers using the Al Dhaba oil export terminal. Al Dhaba...

Statoil ASA.(stops production in Norwegian Sea oil platform)(Brief Article)
January 27, 2003... Statoil ASA shut down production Jan. 19 on the Asgard B platform in the Norwegian Sea because of damage to a leaking flare system, the company said. Asgard B normally produces about 36 million cu m/day of export gas and 125,000 b/d of...

A brief stay at the top. (Journally Speaking).(energy companies, chief executive departures; surveys)
January 27, 2003... The bursting of the tech bubble. Accounting scandals. Lack of investor confidence. The flailing economy Management turnovers. We've yet to see the end of the fallout from the simultaneous occurrence of these troubles, and many companies...

Taxing dividends. (Editorial).(George W. Bush, energy policy)
January 27, 2003... In his 2 years in office, US President George W. Bush has dealt aggressively with issues important to oil and gas companies. The energy plan his administration produced early in its tenure was comprehensive and bold--too bold, as things...

Unocal's Stone: 'window of opportunity' closing of Bangladesh-to-India gas pipeline project. (Point of View).
January 27, 2003... After spearheading the negotiations that brought Unocal Corp. to Bangladesh in 1996, James Stone, president of the company's Unocal South Asia Energy Ltd. unit, is looking forward to first flow of natural gas through the company's proposed...

Venezuela costs international majors. (News Letter).(general strike paralyzes Venezuelan oil industry; effect on foreign oil firms)
January 27, 2003... The general strike that has paralyzed business in Venezuela and brought its oil industry to its knees is costing the 10 largest international companies in that country a whopping $6.7 million/day in combined lost revenue, said analysts at...

EIA: US oil imports to play key role in consumption mix. (General Interest).(Energy Information Administration )
January 27, 2003... Depending on the path of world oil prices, imports may supply 65-70% of total US petroleum demand by 2025, up from 55% in 2001, the Energy Information Administration said. The agency noted that world oil prices are influenced by many...

GAO says RIK needs more oversight at MMS. (General Interest).(General Accounting Office, royalty-in-kind program, Minerals Management Services)
January 27, 2003... A new General Accounting Office study recommends that the Minerals Management Service improve its management of the royalty-in-kind program. The independent auditing agency also recommends that MMS gather information to monitor and...

Interior solicits comment on NPR-A drilling options. (General Interest).(National Petroleum Reserve-Alaska)
January 27, 2003... US oil and gas companies may get more leasing opportunities in the National Petroleum Reserve-Alaska under a series of proposals being reviewed by the Department of the Interior's Bureau of Land Management. BLM Jan. 17 asked for public...

Study: Producers face few limits on some federal lands. (General Interest).
January 27, 2003... Producers face few restrictions on most energy-rich federal lands in five western basins, US officials said. "At the leasing stage, 60% of the oil and gas resources are available at a least-restrictive or nonrestrictive basis," said...

Royalty relief. (Watching Government).(district court rules that Minerals Management Services has misinterpreted deepwater royalty relief rules)
January 27, 2003... The US District Court, Western District of Louisiana, ruled Jan. 8 that the US Department of the Interior's Minerals Management Service has been misinterpreting deepwater royalty relief rules. Three producers, Devon Energy Corp., Ocean...

Data mining-2; data mining algorithm selection: decision trees. (Exploration & Development).(gas well production)
January 27, 2003... The visual data mining process, seen in the first part of this two-part article, revealed patterns in .four dimensions between cumulative gas well production and independent variables. "Jump discontinuities" in visual plots led to use of data...

Exploratory drilling in the country in the first 9 months of 2002. (Exploration & Development: Australia).(Brief Article)
January 27, 2003... Exploratory drilling in the country in the first 9 months of 2002 was at the lowest level for 2 decades, Geoscience Australia reported. Operators drilled 32 offshore and 28 onshore wells in the first 9 months of 2002. The 8 offshore...

Three of four natural gas fields involved in the Juno network have come on stream. (Exploration & Development: UK North Sea).(estimated 300 bcf of gross recoverable reserves)(Brief Article)
January 27, 2003... Three of four natural gas fields involved in the Juno network have come on stream, announced partners BG Group PLC, BP PLC, and Amerada Hess Corp. The companies invested **400 million in second phase development in a region known as the...

Promax Energy Inc. (Exploration & Development: Alberta).(gas discovery )(Brief Article)
January 27, 2003... Promax Energy Inc., Calgary, drilled a Cretaceous Mannville channel gas discovery in late 2002 and plans significant additional activity this year subject to availability of funds. Six of 8 wells drilled to the Mississippian in 2002...

Stone Energy Corp. (Exploration & Development: Gulf of Mexico).(production started on West Cameron Block 45)(Brief Article)
January 27, 2003... Stone Energy Corp., Lafayette, started production from a discovery on West Cameron Block 45 in mid-December. The single well produced 25.2 MMcfd of gas and 125 b/d of oil from an undisclosed interval. Drilled to 16,444 ft, the well cut 59...

Advanced modeling, real-time model updating improve extended-reach drilling success. (Drilling).(Chevron-Texaco Corp. drills in Petronius field)
January 27, 2003... By applying advanced predril modeling combined with real-time model updates, Chevron-Texaco Corp., San Ramon, Calif., successfully drilled three extended-reach wells to 19,000-ft horizontal displacement in the Petronius field of Gulf of...

Gas, water injection included in off-Norway heavy-oil development.(Norsk Hydro ASA)
January 27, 2003... To realize a much better recovery factor, Norsk Hydro ASA selected pressure maintenance with gas and water rather than water alone for developing the heavy-oil (19 [degrees] gravity) Grane field in North Sea Block 25/11, off Norway Fig. 1...

Refinery sources will fill the future 'propylene gap'. (Refining).(demand for propylene in chemical production)
January 27, 2003... Propylene demand for chemical production is growing by 4.7%/year globally. Chemical uses of propylene include polypropylene, cumene, oxo-alcohols, acrylonitrile, propylene oxide, acrylic acid, and other products. Based on volume and...

High-temp., insulated coating aids construction of Alberta bitumen pipeline. (Pipelines).
January 27, 2003... Demanding requirements of transporting dry bitumen in the 12-in. OD MacKay River Pipeline in Alberta led to development of an innovative coating system. Material selection considered pipeline-operating requirements, operating...

US energy demand to rebound in 2003 as production slides. (Special Report Forecast & Review).(Illustration)
January 27, 2003... US energy demand will increase in 2003 as the much-anticipated economic recovery takes hold. Consumption of petroleum products, natural gas, and coal will grow, while demand for other primary forms of energy is on par with 2002 consumption....

Worldwide oil market grows as exporters control output. (Forecast and Review).(Illustration)
January 27, 2003... The global oil market will closely observe members of the Organization of Petroleum Exporting Countries this year as they maneuver to maintain prices and market share as demand fluctuates and geopolitical tensions affect production. In...

Drilling outlook is for decline in US, steady gain in Canada. (Forecast and Review).(Industry Overview)
January 27, 2003... A decline is likely in US drilling in 2003 compared with 2002, while a respectable gain is probable in western Canada. OGJ's early-year forecast of a 3% drop in drilling in the US this year would be welcome next to the 2001-2002...

Direct-to-metal urethane added to coatings family. (Equipment/Software/Literature).
January 27, 2003... Fast Clad direct-to-metal urethane has been added to the new ExpressTech coatings family. Fast Clad is a high-build, fast-drying, single-cost urethane that the company says promises to equal the performance of two-coat conventional...

Laser transmitter helps with alignment jobs. (Equipment/Software/Literature).
January 27, 2003... The new CLS-100 cylindrical laser transmitter is designed for precision machinery and equipment alignment applications. It is housed in a precision package that can slip in and out of mounting fixtures, and it provides a visible red laser...

New connectors allow power break while energized. (Equipment/Software/Literature).
January 27, 2003... A new concept in EEx d connectors is designed to allow operations to be carried out quickly and safely. These flameproof connectors can be disconnected while live, because of a double shuttle design. Each plug and socket has two sets of...

Globe valve operated by external lever. (Equipment/Software/Literature).
January 27, 2003... Here's the Laurence FIRE-CIDE valve, a globe type that is operated by an external lever, which provides manual lifting action to the piston through a rotary shaft seal. This design allows stronger return spring action and ensures...

Tidewater Inc. (Services/Suppliers).(Tidewater Marine LLC announces the promotions of Richard Orr and Christopher Orth)(Brief Article)
January 27, 2003... New Orleans, has announced that its wholly owned subsidiary, Tidewater Marine LLC, has promoted Richard "Monty" Orr to vice-president, international sales div.; and Christopher W. Orth to vice-president, domestic sales div. Orr, a...

IHC Caland. (Services/Suppliers).(Ocean Design Associates acquired)(Brief Article)
January 27, 2003... Schiedam, The Netherlands, has announced the purchase of Houston-based Ocean Design Associates. Ocean Design will merge with the recently established GustoMSC-USA Inc. and will operate under the name of GustoMSC-OceanDesign Inc. ...

Aker Kvaerner. (Services/Suppliers).(operations restructuring)(Brief Article)
January 27, 2003... Lysaker, Norway, has restructured its operations to fit the current economic climate. Operations will be divided into six business areas: field development Europe; maintenance, modifications & operations (MMO) Europe; oil, gas & process...

Paragon Engineering Services Inc. (Services/Suppliers).(Richard L. Rankin appointed vp)(Brief Article)
January 27, 2003... Houston, has announced the appointment of Richard L. Rankin as vice-president of midstream projects, charged with bolstering Paragon's presence in the emerging areas of liquefied natural gas, liquefied petroleum gas, gas-to-liquids,...

Petrofac Ltd. (Services/Suppliers).(PGS Production Services acquired)(Brief Article)
January 27, 2003... London, has completed acquisition of PGS Production Services, an Aberdeen-based operations and maintenance company. Petrofac is a surface facilities solutions provider for oil and gas production, processing, and refining industries. The...

Stabil Drill. (Services/Suppliers).(LOR purchased from Weatherford Inc.)(Brief Article)
January 27, 2003... Lafayette, La., has purchased LOR and its line of downhole drilling tools from Weatherford Inc. LOR's Lafayette facility will be kept, and the Corpus Christi location will merge with Stabil Drill's existing location there. Stabil Drill,...

OGJ production report.(crude oil and lease condensate)(Brief Article)(Illustration)
January 27, 2003... OGJ PRODUCTION REPORT 1-17-03 (1) 1-18-02 (2) 1,000 b/d (Crude oil and lease condensate) Alabama 24 25...

US crude prices.(Brief Article)(Illustration)
January 27, 2003... US CRUDE PRICES $/bbl * 1-17-03 Alaska-North Slope 27[degrees] 18.91 Southern Louisiana Light 30.00 California-Kem River 13[degrees] 28.50 Lost Hills 30[degrees] 31.85...

World crude prices.(Brief Article)(Illustration)
January 27, 2003... WORLD CRUDE PRICES $/bbl (1) 1-10-03 United Kingdom-Brent 38[degrees] 30.10 U.S.S.R-Export blend 32[degrees] 29.05 Saudi Light 34[degrees] 27.25 Dubai Fateh...

Baker hughes rig count.(USA, Canada)(Illustration)
January 27, 2003... BAKER HUGHES RIG COUNT 1-17-03 1-18-02 Alabama 2 4 Alaska 10 15 Arkansas 2 1 California 16 26 Land ...

Smith rig count.(Brief Article)(Illustration)
January 27, 2003... SMITH RIG COUNT 1-17-03 1-18-02 Proposed depth, Rig Percent Rig Percent ft count footage * count footage * 0-2,500 34 11.7 ...

OGJ gasoline prices.(USA)(Illustration)
January 27, 2003... OGJ GASOLINE PRICES Price Pump Pump ex tax price * price 1-15-03 1-15-03 1-16-02 ...

Refined product prices.(Brief Article)(Illustration)
January 27, 2003... EFINED PRODUCT PRICES 1-10-03 cent/gal Spot market product prices Motor gasoline (Conventional-regular) New York Harbor 84.48 Gulf Coast ...

US natural gas storage.(Brief Article)(Illustration)
January 27, 2003... US NATURAL GAS STORAGE (1) 1-10-03 1-3-03 Change Bcf Producing region 618 656 -38 Consuming region east 1,248 1,333 -85 Consuming...

World oil balance.(supply, demand data)(Illustration)
January 27, 2003... WORLD OIL BALANCE 2002 2001 3rd 2nd 1st 4th qtr. qtr. qtr. qtr. ...

US Petroleum imports from source country.(Illustration)
January 27, 2003... US PETROLEUM IMPORTS FROM SOURCE COUNTRY Chg. vs. Average previous YTD ...

OECD total net oil imports.(Organization for Economic Cooperation and Development)(Illustration)
January 27, 2003... OECD * TOTAL NET OIL IMPORTS Sep. Aug. July Sep. 2002 2002 2002 2001 1,000 b/d Canada 1,152 ...

OECD total gross imports from OPEC.(Organization for Economic Cooperation and Development)(Illustration)
January 27, 2003... OECD * TOTAL GROSS IMPORTS FROM OPEC. Sep. Aug. July Sep. 2002 2002 2002 2001 1,000 b/d Canada ...

Oil stocks in OECD countries.(Organization for Economic Cooperation and Development)(Brief Article)(Illustration)
January 27, 2003... OIL STOCKS IN OECD * COUNTRIES Chg. vs. previous Sep. Aug. July Sep. year 2002...

GE labor strike: isolated event or start of trend. (The Editor's Perspective).(General Electric)(Editorial)
January 27, 2003... Maybe the strike at General Electric Jan. 14-15 was an isolated event, one company's problem. Or maybe it was something more. Eighteen thousand GE workers, representing 5.5% of the company's workforce, took part in the work stoppage,...

Week of Jan. 12 turning point for oil markets. (Market Hotline).(OPEC production quotas increased)
January 27, 2003... The week of Jan. 12 could prove to be a crucial turning point in world oil markets for 2003--and perhaps for a long time to come. In an extraordinary special meeting Jan. 12, ministers of the Organization of Petroleum Exporting Countries...

Newsletter.
January 20, 2003... Market Movement Venezuelan crisis persists The general strike that has slashed Venezuela's oil production to less than 500,000 b/d was well into its 7th week at presstime last week, with no solution yet in sight. Ali Rodriguez...

US industry scoreboard.(Illustration)
January 20, 2003... US INDUSTRY SCOREBOARD -- 1/20 4 wk. 4 wk. avg. Change, YTD Latest week 1/10 average year ago (1) % average (1) Demand, 1,000 b/d Motor gasoline 9,133 8,438 ...

Robust Growth. (Industry Trends).
January 20, 2003... ROBUST GROWTH is expected in the deepwater sector within 5 years. Energy analyst Douglas-Westwood Ltd. and offshore data specialist Infield Systems Ltd. report that 148 deepwater fields are expected to come on stream during 2003-07-more...

Clean Air Group. (Government Developments).
January 20, 2003... A CLEAN AIR GROUP has charged that US House Republican leaders, working with the US Environmental Protection Agency, are seeking legislation that could allow some states to avoid using reformulated gasoline (RFG) to meet federal clean air...

British Columbia has joined the Interstate Oil and Gas Compact Commission (IOGCC). (Government Developments).(Brief Article)
January 20, 2003... BRITISH COLUMBIA has joined the Interstate Oil and Gas Compact Commission (IOGCC) as the organization's seventh non-US affiliate. Through IOGCC International, affiliates have access to the organization's information and the opportunity to...

Statoil ASA. (Development).
January 20, 2003... STATOIL ASA has awarded an engineering, procurement, construction, and installation contract to Technip-Cofiexip's Norwegian affiliate Technip Offshore Norge AS and issued letters of intent totaling 560 million kroner for pipelay and marine...

Hyundai Heavy Industries (HHI). (Development).
January 20, 2003... Development of the Sakhalin-1 project in the Russian Far East is moving forward. South Korea's Hyundai Heavy Industries (HHI), which holds the main contract for drilling package fabrication, has awarded a subcontract to Houston-based KCA...

Saudi Arabian Basic Industries Corp. (SABIC). (Petrochemicals).(Brief Article)
January 20, 2003... SAUDI ARABIAN BASIC INDUSTRIES CORE (SABIC) subsidiary, United Petrochemical Co., has arranged financing for its proposed petrochemical plant at Jubail Industrial City and plans to start production in the second half of 2004. SABIC...

OPEC News Agency reported state oil firm Sonatrach as saying earlier this month. (Production).(Brief Article)
January 20, 2003... FIRST PRODUCTION of 75,000 b/d of oil has started from Ourhoud oil field--Algeria's second largest--OPEC News Agency reported state oil firm Sonatrach as saying earlier this month. The field, in northeastern Algeria, is in the Ghadames basin,...

TotalFinaElf. (Production).(Brief Article)
January 20, 2003... Iran's offshore Balal oil field has come on stream, following a $310 million development program led by TotalFinaElf. The 390 million bbl oil field began production from two completed wells at a rate of 20,000 b/d, with output expected to...

Noble Energy Inc. (Production).(Brief Article)
January 20, 2003... In other production news, Noble Energy Inc. started crude oil production Jan. 13 from Cheng Dao Xi field in Bohai Bay off China. The oil flowed from three wells at a combined rate of 6,000 bid. The production platform was designed to produce...

Apache Corp. (Exploration).(Brief Article)
January 20, 2003... APACHE CORP., Houston, made a discovery on its Ras El Hekma concession 18 miles northeast of the company's prolific Khalda concession. The Emerald-1X well, Apache's 11th discovery in Egypt, was drilled to 12,440 ft TD. It flowed 16.9 MMcfd of...

Petroleum Geo-Services ASA. (Exploration).(Brief Article)
January 20, 2003... Oman, in cooperation with Norway's Petroleum Geo-Services ASA, opened the 2003 licensing round for Gulf of Oman Blocks 18A, 18B, and 41 on Jan, 15 and will close tenders July 15. The blocks cover 7,920 sq km for 18A, 13,520 sq km for 18B and...

Jordan's Zarqa oil refinery with Iraq's Al-Haditha oil wells. (Pipelines).(Brief Article)
January 20, 2003... JORDAN has selected 47 local trucking companies to deliver 5.5 million tonnes of Iraqi oil during 2003 at a cost of $56 million, pending construction of a new oil pipeline. The proposed $365 million, 750 km pipeline, which will link...

Marathon Oil Co. (LNG).
January 20, 2003... MARATHON OIL CO. has selected Houston-based KBR (Kellogg Brown & Root) and Techint SA de CV of Argentina as engineering, procurement, and construction (EPC) contractors for the Baja California Regional Energy Center project in western Mexico....

Corrections.(Correction Notice)
January 20, 2003... Petrogal Exploration was erroneously denoted as being from Spain (OGJ, Jan. 6, 2003, Newsletter, p. 8). It is actually an arm of Petroleos de Portugal, the national oil company of Portugal. OGJ excluded Paramount Petroleum Corp.'s...

Letters.
January 20, 2003... Media biased As an industry plagued by bad coverage from an antioil liberal press, I find your assessment "Are the Media Biased?" (OGJ, Dec. 16, 2002, p. 17) difficult to fathom. Of course the media is biased, but you know that. The "oil...

Weather and energy planning. (Journally Speaking).
January 20, 2003... Weather forecasting has never been an exact science. In some areas of the world, people inspect "woolly worms" to predict the severity of the coming winter, It is believed the thickness and color of the critter's hairy bands foretell...

The climate debate. (Editorial).(Editorial)
January 20, 2003... The US government properly refuses to ratify the Kyoto Protocol on Climate Change but acts determined to implement it. This month, the Environmental Protection Agency began a voluntary program to reduce emissions of carbon dioxide and other...

Canada's huge gas potential challenged by cost, price, pipeline transport issues. (Special Report: Canada's Gas Outlook).
January 20, 2003... Canada remains a long-term storehouse to help meet North American natural gas demand. There remain enormous untapped resources of conventional and nonconventional gas in Canada. But challenges ahead include rising depletion rates and...

Nova Scotian independent likes eastern Canada prospects. (Special Report: Canada's Gas Outlook).
January 20, 2003... The onshore portion of Canada's Maritime Provinces represents a true frontier with practically no oil or gas production and its own set of challenges. The area is slowly becoming productive under the shadow of Atlantic Canada's...

OPEC hikes production quota to quell market worries.
January 20, 2003... Members of the Organization of Petroleum Exporting Countries decided Jan. 12 to increase their total oil production quota by 6.5% to 24.5 million b/d in an effort to reassure markets unsettled by a shortfall in oil exports from Venezuela and...

Iraq's current oil-for-aid program exports fall to 6.7 million bbl. (General Interest).(Brief Article)
January 20, 2003... Iraq exported 6.7 million bbl of oil for the week ended Jan. 10, a reduction of 7.4 million bbl from the 13.1 million bbl exported during the preceding week, according to figures released last week by the United Nations' oil-for-aid program....

PDVSA workers oppose takeover of PDVSA by Chavez. (General Interest).
January 20, 2003... A panel of former executive and technical employees of Petroleos de Venezuela SA (PDVSA) said Jan. 10 they were struggling to prevent Venezuelan President Hugo Chavez from taking over the state-owned oil company to "gain control of...