Some Unsaturated Fats Promote Inflammation: Study (Reuters)
A type of unsaturated fatty acid found in corn and safflower oil appears to activate genes that promote inflammation inside blood vessels, a risk factor for heart disease, new research suggests.
- Jan 03 5:22 PM ET

Gothic Resources Inc.: News Release (CCN Newswire)
VANCOUVER, BRITISH COLUMBIA--Gothic Resources, Inc. and its wholly owned subsidiary American Natural Energy Corporation announce that pursuant to the Second Amended Plan of Reorganization of Couba Operating Company , ANEC has acquired substantially all of the assets of Couba, comprised of existing oil and gas properties that include leasehold and 3D seismic inventory in St. Charles Parish, Louisiana effective as of December 31, 2001. ANEC has begun evaluation of all existing properties and will begin...
- Jan 03 5:00 PM ET

Warm snap to reduce Equitable's 2001 earnings (Reuters Securities)
Oil and natural gas company Equitable Resources said on Thursday that unusually warm weather in the fourth-quarter of last year will reduce 2001 earnings by approximately 7 cents per share.
- Jan 03 4:35 PM ET

Loews' Lorillard Plan Raises Concern (Reuters)
Loews Corp. (LTR.N), the conglomerate whose holdings range from insurance to oil drilling to watches, is facing opposition to its proposed plan to issue a tracking stock for tobacco unit Lorillard.
- Jan 03 3:58 PM ET

Shareholders voice concerns on Loews' Lorillard plan (Reuters Securities)
Loews Corp., the conglomerate whose holdings range from insurance to oil drilling to watches, is facing opposition to its proposed plan to issue a tracking stock for tobacco unit Lorillard.
- Jan 03 3:51 PM ET

BP takes L.A. refinery hydrotreater down - source (Reuters Securities)
BP Plc is preparing to take down a hydrotreater at its Carson oil refinery near Los Angeles for scheduled maintenance, an industry source said on Thursday.
- Jan 03 3:25 PM ET

Phillips does maintenance on L.A. refinery unit (Reuters Securities)
Phillips Petroleum Co. took down a catalytic cracking unit at its Los Angeles area oil refinery system last week for scheduled maintenance work expected to last about 40 days, an industry source said on Thursday.
- Jan 03 1:07 PM ET

RESEARCH ALERT-Salomon starts Patterson-UTI as ``outperform'' (Reuters Securities)
Salomon Smith Barney on Thursday started coverage of Patterson-UTI, North America's second-largest onshore oil driller, with an ``outperform'' rating and a $28-per-share target price.
- Jan 03 12:00 PM ET

Lehman cuts Apache price target to $46 from $54 (Reuters Securities)
Lehman Brothers on Thursday cut its price target on independent oil and gas producer Apache Corp. to $46 from $54, citing the company's 10 percent stock dividend and the likelihood it will spend 100 percent of cash flow to increase production.
- Jan 03 12:00 PM ET

Merrill cuts 2002 oil price view on weak economy (Reuters Securities)
Merrill Lynch & Co., among the most bullish oil research teams of the past two years, on Thursday cut its 2002 crude oil price forecast, citing a sickly global economy.
- Jan 03 10:57 AM ET

Murphy Oil sees 4th-qtr earnings of 55-65 cents (Reuters Securities)
Independent oil producer Murphy Oil Corp.(NYSE: MUR - news ) on Thursday said it expects fourth-quarter earnings per share before special items to range from 55 cents to 65 cents.
- Jan 03 10:00 AM ET

Murphy Oil narrows fourth-quarter earnings outlook (Reuters Securities)
Independent oil producer and refiner Murphy Oil Corp.(NYSE: MUR - news ) on Thursday narrowed its fourth-quarter earnings forecast, saying it expected earnings per share before special items of between 55 cents and 65 cents.
- Jan 03 10:14 AM ET

Phillips buys gasoline after NJ refinery power out (Reuters Securities)
Phillips Corp. bought gasoline in the New York Harbor cash trading hub Wednesday evening to cover its customers' needs after a power outage affected operations at its Bayway oil refinery in Linden, N.J, trading sources said on Thursday.
- Jan 03 10:31 AM ET

Oil Steadies After Jump on Cold Snap (Reuters)
World oil prices steadied on Thursday after climbing sharply on a cold snap in the United States and Europe, and growing evidence of lower OPEC exports.
- Jan 03 9:21 AM ET

Enterprise Oil up on oil price, UBS Warburg positive (Reuters Securities)
Enterprise Oil shares climbed more than five percent on Thursday as support from a higher crude oil price added to a positive research note from investment bank UBS Warburg.
- Jan 03 7:22 AM ET

Pertamina, Riau signs 50-50 deal in CPP oil block (Reuters Securities)
Indonesia state oil company Pertamina has signed 50-50 percent share agreement with Riau province on the Coastal Plain Pekanbaru oil block which would be in effect from August 2002, Riau province governor Saleh Djasit said on Thursday.
- Jan 02 10:29 PM ET

Pertamina, Riau sign 50-50 deal in CPP oil block (Reuters Securities)
Indonesia state oil company Pertamina has signed 50-50 percent share agreement with Riau province on the Coastal Plain Pekanbaru oil block which would be in effect from August 2002, Riau province governor Saleh Djasit said on Thursday.
- Jan 02 10:29 PM ET

Mexico Denies Japanese Oil Claim (AP)
Mexico's state oil monopoly Petroleos Mexicanos denied Wednesday that Japan's government-owned National Oil Corporation obtained rights to explore for oil on Mexico's Gulf coast.
- Jan 02 6:05 PM ET

Cold, Production Cuts Kick Oil Higher (Reuters)
Wintry weather blowing in just a day after fresh supply cuts from global oil producers took effect gave U.S. oil a kick into the new year Wednesday as heating oil futures rose more than four percent.
- Jan 02 6:13 PM ET

Mexico Denies Japanese Oil Claim (AP Financial)
Mexico's state oil monopoly Petroleos Mexicanos denied Wednesday that Japan's government-owned National Oil Corporation obtained rights to explore for oil on Mexico's Gulf coast.
- Jan 02 6:04 PM ET

Mexico: Japan Oil Has Study Rights (AP)
Mexico's state oil monopoly Petroleos Mexicanos said that Japan's government-owned National Oil Corp. obtained rights to look for oil along Mexico's Gulf coast.
- Jan 02 5:48 PM ET

Cold Weather - After Cuts - Kicks Oil Up (Reuters)
Wintry weather blowing in just a day after production cuts from global oil producers took effect gave U.S. oil a kick to the new year Wednesday as heating oil futures rose more than 2.5 cents per gallon.
- Jan 02 5:12 PM ET

Interior Dept. OKs Floating Vessels (AP Financial)
Companies pumping oil from beneath the Gulf of Mexico may apply to use floating vessels to draw the oil from wells, store it and later unload it onto tankers, the Department of the Interior announced.
- Jan 02 6:00 PM ET

Interior Dept. OKs Floating Vessels (AP)
Companies pumping oil from beneath the Gulf of Mexico may apply to use floating vessels to draw the oil from wells, store it and later unload it onto tankers, the Department of the Interior announced.
- Jan 02 6:02 PM ET

Oil service stocks down as investors take profits (Reuters Securities)
Oilfield service issues, one of the most volatile segments of the U.S. stock market, were broadly weaker on Wednesday as investors ignored a surge in oil prices and took profits after recent strong gains, analysts said.
- Jan 02 4:57 PM ET

Toronto stocks slip lower to start new year (Reuters Securities)
Toronto stocks closed lower on Wednesday as late gains by technology issues could not stem a broad-based slide, led by sagging oils and pipelines.
- Jan 02 5:29 PM ET

Economic uncertainty pressures Canada energy stocks (Reuters Securities)
Canadian energy stocks started the year on a sour note on Wednesday, sinking 2.5 percent as a big jump in crude prices failed to persuade investors there would be long-term strength in oil markets.
- Jan 02 5:12 PM ET

Brazil oil bosses take posts as fuel prices freed (Reuters Securities)
New bosses took the reins in Brazil's ANP oil market regulator and state oil giant Petrobras on Wednesday, the first business day after Latin America's largest country freed fuel prices, opening the market for competition.
- Jan 02 4:05 PM ET

RESEARCH ALERT-JP Morgan cuts oil service estimates (Reuters Securities)
... move followed a reduction in his estimates of the number of rigs that will be drilling for oil and gas this year after weaker than expected drilling activity during the fourth quarter of...
- Jan 02 4:00 PM ET

Toronto stocks start new year by slipping lower (Reuters Securities)
Toronto stocks closed lower on Wednesday as late gains by technology issues could not support a broad-based slide, led by sagging oils and pipelines.
- Jan 02 4:40 PM ET

Eurostocks start 2002 with loss as oils weigh (Reuters Securities)
...The heavily weighted oil sector led markets downwards on concern that OPEC will not be able to enforce production cuts...
- Jan 02 2:27 PM ET

Eurostocks Open '02 with Loss; Oils Weigh (Reuters)
...The heavily weighted oil sector led markets downwards on concern that OPEC will not be able to enforce production cuts...
- Jan 02 2:35 PM ET

CGX Energy Inc.: News Release (CCN Newswire)
TORONTO, ONTARIO--CGX Energy Inc. announces that it has completed the issuance of 559,206 flow-through common shares to raise gross proceeds of approximately CDN$324,000, which will be expended on disbursements qualifying for exploration expense on various Canadian oil and gas properties. The shares were issued through Northern Securities Inc., which received aggregate commissions and work fees of CDN$35,947.16 and warrants to purchase 44,736 common shares of CGX at a price of CDN$0.58 per share...
- Jan 02 2:40 PM ET

Cold Weather Kicks U.S. Oil Higher (Reuters)
Wintry weather blowing in just a day after production cuts from global oil producers took effect gave U.S. oil a kick to the new year on Wednesday as heating oil futures rose more than 2 cents per gallon.
- Jan 02 1:08 PM ET

Eurostocks end 2002 debut lower; oils weigh (Reuters Securities)
...The heavily weighted oil sector led markets downwards on concern that OPEC will not be able to enforce production cuts...
- Jan 02 12:22 PM ET

Toronto stocks start new year lower as oils slide (Reuters Securities)
Toronto stocks were lower at midday on Wednesday, starting the new year on a down note as investor skepticism about OPEC's ability to enforce oil production cuts dragged resource issues down, counteracting strength in the tech sector.
- Jan 02 12:34 PM ET

Oil service stocks down with natural gas prices (Reuters Securities)
..." citing a continuing slowdown in U.S. oil and gas drilling activity....
- Jan 02 11:54 AM ET

Total weighs on French shares in first session of 2002 (Reuters Securities)
French shares retreated on Wednesday, the first trading day of 2002, as oil heavyweight TotalFinaElf dragged down a market hampered by subdued trade, overshadowing better-than-expected U.S. data.
- Jan 02 12:17 PM ET

The Oil Outlook for 2002 (ABCNEWS.com)
Amid growing tensions, 2002 brings renewed uncertainty about oil prices.
- Jan 02 10:51 AM ET

Eurostocks start 2002 with wimper as oils weigh (Reuters Securities)
European shares remained weak in thin midafternoon trade on Wednesday as falling oil stocks compounded investor worries that equity valuations look steep going into the new year.
- Jan 02 10:52 AM ET

Paris bourse ends in red in year's first session (Reuters Securities)
French shares retreated on Wednesday, the first trading day of 2002, as oil heavyweight TotalFinaElf dragged down a market hampered by subdued trade, overshadowing better-than-expected U.S. data.
- Jan 02 11:48 AM ET

UPDATE 1 - Toronto stocks down in year's first session (Reuters Securities)
The Toronto Stock Exchange's main index was lower on Wednesday, weighed down by oil stocks as a thin slate of investors occupied the marketplace on the first trading day of 2002.
- Jan 02 10:42 AM ET

Toronto stocks trickle lower at open (Reuters Securities)
The Toronto Stock Exchange's main index opened slightly lower on Wednesday, weighed down by oil stocks as a thin slate of investors occupied the marketplace on the first trading day of 2002.
- Jan 02 10:03 AM ET

Total weighs as French shares fall (Reuters Securities)
French shares fell on Wednesday afternoon with oil giant TotalFinaElf sliding amid weak oil prices, but gains from luxury goods maker LVMH limited the market's retreat.
- Jan 02 9:53 AM ET

Russian Oil Industry Changing (AP)
One of Russia's leading oil companies pays for thousands of school children every year to attend a program that teaches them pride in their nation, confidence in their own abilities - and how the market economy works.
- Jan 02 9:02 AM ET

Russian Oil Industry Changing (AP Financial)
One of Russia's leading oil companies pays for thousands of school children every year to attend a program that teaches them pride in their nation, confidence in their own abilities -- and how the market economy works.
- Jan 02 9:01 AM ET

Genesis says partnership transfer pact terminated (Reuters Securities)
Genesis Energy, an oil marketer and transporter, on Wednesday said an agreement to transfer ownership of its general partner from Salomon Smith Barney to GA Partnership was terminated.
- Jan 02 9:13 AM ET

Oils grease eurostocks drop, mixed Wall St beckons (Reuters Securities)
European shares clocked up oil and bank led losses by midsession on Wednesday as bourses kicked-off 2002 in subdued mood, though nursing hopes the next 12-months will see gains after two dismal years.
- Jan 02 7:07 AM ET

Oils Grease Eurostocks Decline (Reuters)
European shares clocked up oil and bank led losses by midsession Wednesday as markets kicked-off 2002 in a subdued mood, though nursing hopes the next 12 months will see gains after two dismal years.
- Jan 02 7:19 AM ET

French shares turn negative as Total slides (Reuters Securities)
Shares in oil heavyweight TotalFinaElf fell on Wednesday amid uncertainty over whether output cuts by OPEC and non-OPEC producers would be fully implemented, taking the Paris stock market down by mid-session.
- Jan 02 6:44 AM ET

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