www.bloomberg.com Fri, 14 Mar 2003, 09:31am EDT By Joe Carroll

Vancouver, March 13 (Bloomberg) -- Methanex Corp., the world's largest methanol producer, put on hold plans for a A$1 billion ($593.1 million) methanol plant in Western Australia because of rising costs.

Methanex is studying alternatives for supplying customers in Asia, the company said in a statement distributed by Business Wire. Vancouver-based Methanex is looking at other sites in Australia and may build capacity at smaller increments than originally planned to reduce costs.

This proposed development has become increasingly difficult to progress in its originally intended form,'' said Bruce Aitken, senior vice president for Methanex's Asia-Pacific operations, in the statement. For Methanex, the capital costs for a Greenfield project of this size have become disproportionately high.''

Methanex shares rose 6 cents to $8.91 in Nasdaq trading. The stock is up 22 percent from a year ago.

Methanol is used to make fuel components such as methyl tertiary butyl ether, or MTBE. It is also an ingredient in formaldehyde and acetic acid, which is used to make photographic film.

Methanex received environmental approval from the Australian government last month to build a methanol plant in the Burrup Peninsula that would produce 2 million metric tons annually. Construction had been slated to begin by mid-year. Methanol is derived from natural gas.

ogj.pennnet.com DATE: March 12, 2003 FROM: PR Newswire

HOUSTON, March 10 /PRNewswire-FirstCall/ -- Harvest Natural Resources, Inc. (NYSE:HNR) today announced that Benton-Vinccler, C.A., its 80 percent owned Venezuelan subsidiary, received $26.7 million as payment for its 2002 fourth quarter oil sales to Petroleos de Venezuela, S.A. (PDVSA). The payment was seven days late and represents full payment of $27.9 million less the normal income tax retention of $1.2 million. In addition, Benton-Vinccler received 2.7 billion Bolivars (approximately $1.7 million) reimbursement from PDVSA for previously paid 2002 fourth quarter value-added taxes. The payments were originally due at the end of February from PDVSA. However, PDVSA had previously advised Benton-Vinccler that the payment would be late due to the disruption in PDVSA's business activities resulting from the national civil strike.

Harvest President and Chief Executive Officer, Dr. Peter J. Hill, said, "We are pleased to have received these outstanding payments due from PDVSA. We believe that the payment demonstrates PDVSA's commitment to building its production levels back to full capacity and returning to more normalized business relations with its customers and suppliers."

Harvest Natural Resources, Inc. headquartered in Houston, Texas, is an independent oil and gas exploration and development company with principal operations in Venezuela and Russia. For more information visit the Company's website at www.harvestnr.com .

This press release may contain "Forward-Looking Statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this release may constitute forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from the Company's expectations due to changes in operating performance, project schedules, oil and gas demands and prices, and other technical and economic factors.

Source: Harvest Natural Resources, Inc. CONTACT: Steven W. Tholen, Senior Vice President, Chief FinancialOfficer of Harvest Natural Resources, Inc., +1-281-578-8020 Web site: www.harvestnr.com

www.vheadline.com Posted: Wednesday, March 12, 2003 By: Oscar Heck

VHeadline.com commentarist Oscar Heck writes: A few days ago I was at Atlanta Georgia International Airport (passing through), and was aghast at what I saw on the television at the little bar at D-9 where I could finally have a cigarette.

Although no one appeared to be listening (maybe since they were mostly interested in smoking), the television reports on Fox sounded like pure war propaganda.  The images were headlined by phrases such as "Axis of Evil" and "Fox News Alert!"

The newsperson repeated (in an aggravated alarmist fashion and with a tone of impending doom) "North Korea is pumping up the heat," and ... out of context ... "Chirac has stated that Iraq has not cooperated enough with UN arms inspectors."  The newsperson then went on to talk about the USA finding evidence that Iran is involved in weapons manufacturing.

Beyond being discouraged at the fact that our world seems to be repeating history again ... a build up to another "world" war, I was stunned by the similarity of this "Axis of Evil News Alert" to what I had been hearing on the privately-owned TV stations in Venezuela for the last 3 months ...especially Globovision.

A thought then came to mind. Who will the USA integrate next into their "Axis of Evil" concept?  First it was Bin Laden, next Saddam, then North Korea, now Iran, and tomorrow ... who ...Venezuela?

Most people who support the opposition to Chavez (and its deliberate attempt at destroying Venezuela) also support or "admire" the USA and its supposed "civilized" ways.

Is this what Venezuela needs? Admirers of the USA's "war" policies to re-take the reins of Venezuela? (By the way, I am not exaggerating by saying "admirers." Many of the anti-Chavez websites are USA-based and many anti-Chavez people have embarked on a mission to discredit Chavez by stating that he is linked to Saddam, Bin Laden and Khadaffi ... but with absolutely no evidence.  Sound familiar?)

I am saddened by the fact that I find the need to mention the USA once again.  I am quite sure that most Americans are not in support of the USA's "war" policies.  Many may even be embarrassed ... but I am seeing scary trends in Venezuela.

A few days ago, I was speaking with a family in Venezuela that are/were anti-Chavez and staunch supporters of the opposition.  They all signed at the El Firmazo.  Now they have discovered (through some Venezuela news sources) that the USA is quite intent in "forcing" their "war against drugs" onto Venezuela, apparently "infiltrating" some Venezuelan territory.

It also appears that the USA wants to set up US military bases along the Venezuela-Colombia border. This is a scary subject ... especially for many Venezuelans who have been misled by the largely pro-USA opposition leaders. The family is now having second thoughts about having signed in support of the opposition.  I suggested to them that when election time comes, to seriously consider that some anti-Chavez politicians will probably invite the US military into Venezuela ... as Colombia has done. They showed great concern.

(It is now "common knowledge" in Venezuela that the opposition is seeking USA support to oust Chavez:  "Oh! help us, Mr. Bush ... save Venezuela, etc...

Question: Is the "war" against drugs an excuse for the USA and the Venezuelan opposition to have American military units ready to attack Venezuela in the event that Chavez is re-elected? (I predict that Chavez will be re-elected.)

All these issues bring back memories ... I worked in Kuwait during the Gulf War and am today re-living certain feelings.  While in Kuwait, I used to watch CNN and was disgusted by the manipulation of information about the Kuwait situation, the propaganda, the "News Alerts" and the amount of American "hero" rhetoric that was being propagated regarding the US military.

Perhaps some people do not know that USA fervently propagated the notion that they went to "help" in the conflict ... which is a false notion.  The USA did not go "help" in the conflict.  Shortly after the war, I worked in Saudi Arabia and had the opportunity to speak with several members of the Royalty ... the USA was paid to do the job, paid by the Kuwaitis and by the Saudis.  The USA was paid.

Here is another example of what could have been considered far-fetched, but is apparently true. According to an article by Robert Russo, "FBI spied on Trudeau for decades" one Florida-based organization stated:

"Most Americans would be shocked to be told that Pierre Trudeau, the Prime Minister of Canada, is a Communist, who adores Mao Tse-tung and wants to make Canada over into a Red Chinese-style communist slave state."

Trudeau was also a close friend of Fidel Castro and apparently admired several elements of the Cuban Revolution ... it seems that the USA was not very happy with Trudeau.

It seems that the USA is not very happy with Chavez either.

I hope that Venezuelans will agree with the Chavez government's stance against foreign intervention ... USA or other ... in Venezuela's internal affairs.

I also hope that the opposition will come to realize the great risk in which they have put Venezuela by asking the help of the USA and others in their effort to discredit and oust Chavez from power.

Oscar Heck oscarheck111@hotmail.com

www.forbes.com Reuters, 03.12.03, 12:08 PM ET CARACAS, Venezuela, March 12 (Reuters) - Several dozen anti-government Venezuelan oil workers demonstrated outside Norway's embassy in Caracas Wednesday to protest a natural gas deal Norwegian oil firm Statoil <STL.OL> signed last month with the administration of President Hugo Chavez. The former employees of Venezuelan state oil giant Petroleos de Venezuela (PDVSA), fired for participating in a two-month strike aimed at forcing Chavez from office, said Statoil was putting its economic interests ahead of the interests of the politically divided South American nation. "We are protesting against companies that had long relationships with PDVSA which are taking advantage of the situation," Susana Ferraris, a former PDVSA trading manager, told Reuters. Statoil signed the contract to explore and develop the offshore Block 4 of the Deltana area, which included a $32 million bonus payment to the government, in February, when Chavez was sacking thousands of PDVSA employees who had joined the strike in the world's No. 5 oil exporter. The strike started Dec 2 and slashed oil output and exports, but petered out early last month and the government has been steadily restoring oil production. Foes of Chavez, who accuse the leftist leader of ruling like a dictator and destroying the economy, have been critical of the Deltana deal negotiated by the government. Carrying placards and blowing whistles in front of a western Caracas commercial center housing the embassy, the rebel PDVSA staff criticized the transparency of the Deltana negotiations involving Statoil. "Why are you unfairly taking advantage of a partner country? Is that the way you do your business?" read one placard. "They are doing business with a lying government, a dictator," Juan Conde, a former PDVSA manager, told Reuters. Statoil is also involved in Venezuela's multi-billion dollar Sincor synthetic oil project, initiated in the mid-1990s before Chavez was elected in late 1998. The ex-PDVSA workers said similar pickets could be held in front of other embassies whose companies have signed contracts with the Chavez administration, including the U.S. diplomatic compound. U.S. oil major ChevronTexaco (nyse: CVX - news - people) also signed a deal to develop a Deltana Block last month. PDVSA has enlisted pro-government replacement workers and troops to restart its strike-hit oil sector, which provides half of government revenues. Chavez is seeking to boost non-oil investment, especially in natural gas, to reduce the OPEC nation's heavy reliance on the volatile commodity.

www.komotv.com March 12, 2003 By KOMO Staff & News Services

OLYMPIA - With some gas prices topping $2 a gallon and no relief in sight, some state lawmakers want to give drivers more options at the pump.

The state House passed a package of bills on Tuesday that would give tax breaks to encourage the production and use of biodiesel, an environmentally friendly fuel that can be used in any diesel engine.

Now just a few places in Washington state sell biodiesel fuel, and it retails between $2.75 and $3.25 a gallon, compared to an average price of $2.03 per gallon for regular diesel. But lawmakers and biodiesel fans believe prices will drop if Washington can attract biodiesel manufacturers to the state.

"As the price of petroleum goes up, the price of this product will go down as we get into production," said Rep. Brian Sullivan, D-Mukilteo, who sponsored the biodiesel bills. He said in Minnesota, where some biodiesel production plants are located, the fuel costs $1.80 a gallon.

Biodiesel can be made from soybeans, oilseed crops such as mustard seed, recycled vegetable oil or even used restaurant grease. Using biodiesel instead of petroleum in cars reduces carbon monoxide by about 40 percent over regular diesel, according to the U.S. Department of Energy, and cuts air toxins by 60 percent to 90 percent.

Duane Heier runs his tractor on biodiesel at the Steamboat Island Nursery near Olympia. He likes the environmental benefits and the "much less noxious" smell of biodiesel fumes. When he starts up the tractor, he said, "it smells sort of like the back of McDonald's."

Heier can afford biodiesel because he only uses about 10 gallons a month. "Less expensive would be great," he said.

Heier buys his biodiesel from Neil Falkenburg, who sells it at the West Bay Marina in Olympia. Falkenburg has used the fuel in his 1998 Dodge Ram pickup, and said while 100 percent biodiesel seems to give him a little less power, the engine runs quieter and the exhaust smells "by far more pleasant." He usually uses a mix of biodiesel and petroleum diesel.

Falkenburg said his biodiesel business has grown steadily since he started a year ago; he has about 20 regular customers.

"Once they get started on it, they're hooked," he said. Some customers bought new diesel Volkswagens just so they could use the special fuel, he said. In a car that gets 40 or 50 miles to the gallon, biodiesel starts to make economic sense as well as appealing to environmentalists.

Beside the environmental benefit, Sullivan pushed the biodiesel bills as ways to stimulate the rural economy. Washington farmers can grow the ingredients for biodiesel, and attracting biodiesel manufacturers to the state could create much-needed jobs in depressed rural areas.

House Bills 1240, 1241, 1242 and 1243 would create tax breaks for biodiesel makers and sellers in Washington, encourage state agencies to use biodiesel fuel, and start a pilot project for using biodiesel in school buses. A handful of Republican lawmakers opposed the bills, saying state government shouldn't meddle with free market competition.

"If a product is good it will rise to the top," said Rep. Lois McMahan, R-Olalla.

Bill supporters said biodiesel can and will succeed on the free market - but the Legislature can make sure it happens in Washington by giving biodiesel manufacturers tax incentives to set up shop here. Sullivan mentioned Airway Heights, outside of Spokane, as one possible biodiesel plant site.

"Do we want to lay the groundwork to have this be the center of biodiesel production on the West Coast?" asked Rep. Jeff Morris, D-Anacortes, who supported the bill.

Petroleum diesel cost an average of $2.03 a gallon in Washington on Tuesday, according to AAA, while a gallon of regular unleaded gas cost $1.85 - up from an average of $1.18 a year ago and $1.52 a month ago.

A few hours before the House passed Sullivan's biodiesel bills, lawmakers were grilling oil industry representatives at a hearing on high gasoline prices.

"It seems to my constituents out there that you are taking advantage of increased war talk to increase your prices," said Rep. Laura Ruderman, D-Kirkland. "It doesn't seem reasonable."

Anita Mangels, a spokeswoman for the Western States Petroleum Association, said rising prices were driven by high crude oil prices, in turn driven by jitters about war in Iraq and political instability that virtually shut down oil production in Venezuela.

"Unfortunately, the petroleum industry is incredibly sensitive to global conditions," Mangels said. "It's the market. It's always the market. It's economics 101."

For More Information:

Look Up Bills' Text -- www.leg.wa.gov Dr. Dan's Alternative Fuel Werks, Seattle-based biodiesel retailer: www.fuelwerks.com