General Interest 2002 P

12/30/2002 -- Raymond James: 2003 E&P spending to rise more than 20% from last year
Despite recent surveys revealing that exploration and production companies' worldwide E&P spending for 2003 will be flat to slightly elevated compared with last year, a recent research note released by Raymond James & Associates Inc. stated that outlays would in fact likely be more than 20% higher than originally anticipated.
12/30/2002 -- Apache Egypt discovery has highest reservoir yields to date
Apache Corp., Houston, made a new discovery on its Ras El Hekma concession 18 miles northeast of the company's prolific Khalda concession.
12/30/2002 -- Market watch: OPEC's preparedness to increase output staves off oil futures price increase
The continuing general strike in Venezuela as well as the looming threat of war against Iraq again forced futures prices for oil and petroleum products higher Friday on the New York Mercantile Exchange. But any gains made quickly were lost early Monday following the announcement by the Organization of Petroleum Exporting Countries that it was prepared to increase output to make up for any lost production, the Associated Press reported.
12/27/2002 -- Gas de France to acquire Germany's Preussag Energie
Gas de France will acquire Lingen, Germany-based Preussag Energie GMBH, an affiliate of TUI AG, for nearly one billion euros. TUI said it is selling the unit to refocus on its tourist business.
12/27/2002 -- Market watch: Venezuela and Iraq continue to boost oil prices
Futures prices for oil and petroleum products continued to rise Thursday on the New York Mercantile Exchange as the general strike in Venezuela raged on, and US and UK forces struck military targets in Iraq.
12/26/2002 -- Brazil to swap gasoline to fuel-starved Venezuela
In a swap for future crude oil deliveries from Venezuela, Petroleos Brasileiro SA has agreed to provide 520,000 l of gasoline to Petroleos de Venezuela SA now to relieve the fuel shortage caused by a general strike that has virtually shut down Venezuela's national oil company.
12/26/2002 -- Lawmaker urges DOE to tap SPR
House Energy and Commerce Committee Chairman Billy Tauzin (R-LA) said the George W. Bush administration should release crude oil from the Strategic Petroleum Reserve because of current international oil market conditions.
12/26/2002 -- Market watch: Supply concerns push oil futures prices to 2-year highs
Oil futures prices continued a pre-Christmas rally this week, hitting 2-year highs on fears of disruption of crude supplies from Venezuela and Iraq.
12/23/2002 -- Court blocks exploration near Utah's Arches National Park
A Washington, DC, federal court temporarily blocked exploration on public land bordering Utah's Arches National Park pending an environmental review.
12/23/2002 -- France opens gas supply competition
France's parliament Friday finally turned the European Union directive on natural gas liberalization into local law, opening 20% of the French gas market to competition.
12/23/2002 -- Nigeria proposes new penalties for oil pollution
Nigerian lawmakers are working out proposals to establish a national oil spill contingency plan and to implement new penalties aimed at discouraging oil spills, OPEC News Agency reported.
12/23/2002 -- CMS Energy sells wholesale trading, gas pipeline units
CMS Energy Corp. reached an agreement Monday to sell its interstate natural gas pipeline unit, CMS Panhandle Cos., and that business unit's accompanying subsidiaries to Southern Union Panhandle for $1.828 billion.
12/23/2002 -- Brazil names new energy minister
Brazil's President-elect Luiz Inácio Lula da Silva on Friday named Dilma Rousseff, a former energy secretary of southern Rio Grande do Sul state and a member of his Workers' Party (PT), as the new mines and energy minister.
12/23/2002 -- South Korea, Iran granted observer status in Energy Charter
Iran and South Korea were granted observer status in the Energy Charter Conference, the governing body of an intergovernmental organization devoted to promoting East-West energy cooperation among European and Asian states.
12/23/2002 -- Market watch: US oil futures price hits 9-week high
The February contract for benchmark US light, sweet crudes gained 11¢ to $30.30/bbl Friday, the highest closing price in 9 weeks for a near-month oil contract on the New York Mercantile Exchange.
12/23/2002 -- Sulfur glut
Reducing fuel sulfur is a clear industry priority. Figuring out what to do with that extra sulfur once refiners remove it isn't. Yet. But some chemical marketers think it should be an industry concern.
12/20/2002 -- Sibneft, TNK affiliate wins stake in Slavneft with $1.86 billion bid
Invest-Oil—an affiliate company acting in the interest of Russian oil firms Sibneft and Tyumen Oil Co. —Wednesday bid for and won a 74.95% equity stake in OAO Slavneft for $1.86 billion.
12/20/2002 -- White House concerned over Venezuela's tumultuous oil strike
US policy makers are worried that a widespread strike by Venezuelan oil workers could impact US energy markets if the situation isn't resolved soon.
12/20/2002 -- Market watch: Gas futures prices decline in profit taking
Energy futures markets were mixed Thursday, with a drop in natural gas prices as a result of profit taking on the New York Mercantile Exchange.
12/20/2002 -- Shell Canada names new chief financial officer
Cathy Williams, currently controller of Shell Europe Oil Products in London, has been named chief financial officer for Shell Canada Ltd.

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