General Interest 2002 P

12/20/2002 -- Lehman: Worldwide E&P outlays to increase slightly for 2003
Worldwide exploration and production budgets are expected to increase by 4.2% to $132.4 billion in 2003 vs. those for 2002.
12/19/2002 -- Panelists recommend US post-conflict policy in Iraq
If US-led forces remove Iraqi President Saddam Hussein, then the administration of President George W. Bush must make it clear to the world the US has no desire to become the de facto ruler of Iraq.
12/19/2002 -- IPAA call for more agency cooperation to unlock elusive energy-rich public lands
An independent producer group said that new government surveys show there is reason to be optimistic that there is more undiscovered oil and gas within US public lands than once thought.
12/19/2002 -- IOGCC and EPA sign regulatory cooperation agreement
Regulators from oil and gas producing states signed a cooperation agreement with the US Environmental Protection Agency designed to "facilitate more open and timely communication," according to the Interstate Oil and Gas Compact Commission.
12/19/2002 -- Market watch: Crude oil futures soar on Iraqi, Venezuelan concerns
Crude oil futures prices spiraled to the highest level in almost 3 months on New York and London markets briefly Wednesday, jumping above $31/bbl in the US and reaching $29/bbl in London.
12/19/2002 -- Shell Chemicals taps Van der Veer for CEO spot
Jeroen van der Veer, currently president of Royal Dutch Petroleum Co. and vice-chairman of Royal Dutch/Shell Group's committee of managing directors, will assume the role of CEO of Shell Chemicals Ltd. effective Jan. 1, 2003.
12/18/2002 -- Service companies await activity increase promised by operators
US producers expect to increase their North American production of natural gas next year, but even at today's higher commodity prices, oil field service companies see no signs of increased drilling activity yet, said industry representatives Tuesday at a Houston conference sponsored by Deloitte & Touche LLP, the US arm of Deloitte Touche Tohmatsu.
12/18/2002 -- EnCana appoints senior executive vice-president, chief operating officer
Randall K. Eresman has been appointed senior executive vice-president and chief operating officer of Calgary-based EnCana Corp.
12/18/2002 -- White House shows "concern" over ongoing Venezuela political crisis
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.
12/18/2002 -- Canada ratifies Kyoto Protocol
Canadian Prime Minister Jean Chretien Tuesday signed the ratification for Canada to accept the Kyoto Protocol on Climate Change.
12/18/2002 -- Market watch: Energy futures prices retreat on technical factors
Energy futures prices retreated Tuesday on technical factors, with some New York traders claiming that market was overbought because Venezuela's general strike has slashed oil production and exports from that country.
12/17/2002 -- Teekay Shipping to acquire Navion unit from Statoil
Teekay Shipping Corp. Monday reported entering into an agreement to acquire from Norway's Statoil ASA its Navion ASA shipping and offshore business unit for $800 million.
12/17/2002 -- Unocal taps Best to head Pure Resources unit
A.J. Best has been named president and CEO of Pure Resources Inc. a unit of Unocal Corp.
12/17/2002 -- Powder River growth paces US coalbed methane scene
Methane from coal seams could provide an increasing share of US natural gas supplies for years to come, according to several reports and studies.
12/17/2002 -- US, Canadian drilling execs see fourth quarter oil field services demand soften
Oil field services demand will soften during the fourth quarter, but it should rebound throughout 2003, drilling managers at US and Canadian exploration and production companies told Gerson Lehrman Group Inc.
12/17/2002 -- Lukoil share issue a response to growing competition among Russian oil firms
Economic necessity is proving to be the mother of invention for Russia's state-held OAO Lukoil, as it comes to grips with a rising tide of competition from several emerging Russian oil companies.
12/17/2002 -- Market watch: NYMEX oil futures break $30/bbl
Crude oil prices on the New York Mercantile Exchange broke above $30/bbl for the first time in 2 months as a national strike disrupting Venezuela's oil and natural gas industry entered its third week.
12/16/2002 -- EU proposals on single-hull tankers offend shipowners and environmentalists
The European Council endorsed a host of proposals by its transport and environment ministers aimed at preventing oil spills, but the measures have intensified criticism by both shipowners and environmentalists alike.
12/16/2002 -- Vintage Petroleum sells Ecuadorian assets to EnCana for $141.7 million
Vintage Petroleum Inc. sold its Ecuadorian business unit to Calgary-based EnCana Corp. for $141.7 million, the Tulsa-based independent said Monday. Based on the agreement, Vintage will sell its indirect wholly owned subsidiary, Vintage Oil Ecuador SA, in a deal that is slated to close Jan. 31, 2003.
12/16/2002 -- Strong refining environment of 2000-01 has re-emerged
US refining margin spikes and upside earnings/share surprises have surfaced, reminding Merrill Lynch analyst Andrew Fairbanks of the strong refining environment of 2000-01.

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