<a href=www.vheadline.com>Venezuela's Electronic News Posted: Thursday, April 03, 2003 By: Juan Francisco Salas Romero

Date: Thu, 3 Apr 2003 15:34:38 +0200 From: Juan Francisco Salas Romero jsalasr@telefonica.net To: Editor@VHeadline.com Subject: Re: Flota tanquera de PDVSA

Dear Editor: I regret that VHeadline.com has not answered PDVSA-MARINE Captain Thomas Allsap regarding the current situation of PDVSA and PDVSA-MARINE vessels.  He explain the situation under a partial, personal and original point of view. So, per example, he said that the M/T "MORUY" has the starboard side boiler out of order ... but under this conditions the vessel is operative.

I would ask the Captain if it is possible with only one boiler to supply steam to the deck, heating cargo system, fuel tankers in the engine room,  accommodation (if neccesary)/

I would like to have a summary of consumption (Kcal/h) of each piece of equipment and the total capacity (Kcal/h) of steam of the one boiler.

Also, what is the net future of the PDVSA-MARINE fleet under new European Union norms?

The current situation of this fleet is precarious and the final target is the privatization of PDVSA ... there is no program of preventive maintenance.

There is not nothing!

Eng. Juan Francisco Salas Romero jsalasr@telefonica.net

<a href=www.canada.com>Reuters Thursday, April 03, 2003

OPEC exporters cut the cost of the Iraqi war to the West by releasing extra volumes of oil last month to prevent a spike in crude prices, according to a Reuters survey of cartel production.

The United States' main allies in the Gulf -- Saudi Arabia and Kuwait -- hiked output dramatically with Riyadh pumping at its highest rate in 21 years, the survey found.

Even U.S. foe Iran lifted supplies, after having publicly opposed any rise in exports on the grounds that it would signal a green light to Washington for an attack.

"The economic incentive to take advantage of high prices while they lasted proved to be stronger than political motives," said Geoff Pyne, consultant to Sempra Energy Trading.

The 11-member Organization of the Petroleum Exporting Countries pumped an extra 440,000 barrels per day (bpd) in March to reach 27.65 million bpd on average, the survey of industry consultants and officials showed.

Excluding Iraq, where exports were cut just ahead of the war, 10 cartel members with quotas pumped an extra 1.77 million barrels a day to 26.45 million bpd. That is 1.95 million bpd above their self-imposed limits of 24.5 million.

The extra barrels were sorely needed by Western importing countries, which had drawn down commercial stockpiles over the winter due to cold weather and shortages from a strike in Venezuela.

Benchmark Brent crude oil prices slumped 17 per cent in March, ending the month at $27.18 per barrel.

Saudi Arabia extended recent output gains to average 9.51 million bpd in March, its highest level since October 1981, but still short of its full capacity of 10.5 million bpd.

"Saudi Arabia had the chance to show that they are a reliable supplier to the United States.

"They did a good job," said George Beranek of Petroleum Finance Co. in Washington

Press Release Source: Biotech Holdings Ltd. Thursday April 3, 9:00 am ET

VANCOUVER, April 3 /PRNewswire-FirstCall/ - Robert Rieveley, President of Biotech Holdings (the "Company", BIOHF.OB: OB; BIO.V) announced today that the Company has filed with the TSX Venture Exchange for issuance of 10 million warrants, at $.10 per share. The warrants are to be issued to creditors of the Company in consideration of their extending the time for repayment of $3,108,077 of loans that they have advanced to Biotech Holdings.

ADVERTISEMENT "Our funding sources have indicated their willingness to accept Convertible Share Purchase Warrants in exchange for extending the time period for repayment of their demand loans for twelve months. We believe that this is a favorable arrangement for Biotech and have accepted this offer to ensure our ongoing operations," Mr. Rieveley said.

Biotech Holdings has developed a prescription drug trademarked as "Sucanon" for the treatment of Type II Diabetes. Sucanon is an insulin- receptor sensitizer, a new class of drugs for controlling the chronically high blood sugar levels that typify diabetes. The drug, in tablet form, works by improving patients' ability to utilize insulin, the hormone that controls blood sugar levels. Type II Diabetes affects more than 17 million people in North America, over 20 million in Latin America and over 150 million worldwide.

Sucanon is currently in regulatory review in Mexico, where it was submitted in September 2001. Sucanon, also known as DIAB II, has been approved as a prescription treatment of Type II Diabetes in Peru and China and is on sale in China on a test-market basis. Biotech Holdings has also signed distribution agreements for the drug for Chile, Venezuela and Argentina and is looking forward to making regulatory application for Sucanon in these jurisdictions as well as in Brazil, where the Company has conducted a clinical trial of Sucanon.

Biotech Holdings Ltd.'s head office and laboratory facility is in Richmond, British Columbia. Biotech Holdings' shares trade on the Over the Counter Bulletin Board in the United States (BIOHF.OB) and on the TSX Venture Exchange in Canada (BIO.V). For inquiries, contact Austin Rand at Biotech Holdings Ltd., 1-888-216-1111 (toll-free), 8 a.m. to 5 p.m. Pacific time, orby e-mail at biotech@direct.ca; For background information and current stock quotations, please visit Biotech's website at www.biotechltd.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

<a href=www.abs-cbnnews.com>ABS-CBN News

An official of the Department of Environment and Natural Resources Thursday said that the lack of funding has been hampering the effective management of the country’s protected areas.

Mundita Lim, assistant director of the DENR’s Protected Areas and Wildlife Bureau (PAWB), pointed out that her office is having difficulty sourcing out funds, both from the public and the private sector, to be used in conservation programs.

Lim admitted that the national government doesn’t have enough resources to come up and implement programs focused on the country’s protected areas.

“There is a need to devolve this kind of responsibility of seriously taking care of our natural resources. The local government units [LGUs] should play a role for the effective supervision of said resources,” she said in an interview at the opening of the “Southeast Asia Regional Meeting of International Union for Conservation of Nature-World Commission on Protected Areas” at the EDSA Shangri-La Hotel in Mandaluyong City.

Lim added that more can be done by the PAWB if there will be an increase in budget allocated for environmental conservation.

“The national government can’t do it alone. The LGUs can initiate its own protection programs though this doesn’t mean that they are being neglected by the national government. Some form of coordination should also be executed between the concerned parties,” she added.

Of the country’s 30 million hectares of land area and 220 million hectares of archipelagic waters -- home to more than 52,177 species of plants and animals, and more than half of which are found nowhere else in the world only 12.8 percent is “legally protected.”

“The diversity of plants and animals makes life possible on Earth, playing a critical role in food security, poverty alleviation, provision of water and a healthier environment. But sadly, the richest countries in biodiversity are unfortunately among the poorer countries,” Environment Secretary Elisea Gozun said.

The Philippines, ranked eighth in the world in total diversity and seventh in endemism, has joined Group of Like-minded Mega Diverse Countries like Bolivia, Brazil, China, Columbia, Costa Rica, Ecuador, India, Indonesia, Kenya, Malaysia, Mexico, Peru, South Africa and Venezuela.

PAWB records in 2001 show that there are 244 protected areas under the National Integrated Protected Areas System in the country, covering an estimated total area of 2.5 million hectares. These include national parks, natural parks, marine parks, marine reserves, game refuge and bird sanctuaries, wilderness areas, watershed forest reserves, mangrove swamps, protected landscapes/seascapes, natural monuments/landmarks, resource reserve, wildlife sanctuary and natural biotic areas. R. Villanueva

Please send your comments or feedback to newsfeedback@abs-cbn.com

<a href=www.businesswire.com>Business Wire

    HOUSTON--(BUSINESS WIRE)--April 3, 2003--This update is intended to give an overview of market and operating conditions experienced by ConocoPhillips during the first quarter of 2003. The market indicators and company estimates may differ considerably from the company's actual results.

    Highlights - First Quarter 2003 vs. Fourth Quarter 2002 -- Exploration and Production -- Higher prices for crude oil. -- Improved natural gas prices. -- Daily production to exceed previous estimate of 1.55 million barrels of oil equivalent (BOE). -- Refining and Marketing -- Improved benchmark refining margins. -- Realized refining margins negatively impacted by co-product margins. -- Higher energy costs. -- Capacity utilization rate in the low 90 percent range. -- Widening light-heavy crude differentials. -- Midstream/Chemicals/Emerging Businesses -- Midstream margins improved versus previous quarter. -- Chemicals segment loss expected due to higher feedstock and energy costs. -- Emerging Businesses' results expected to be similar to fourth quarter 2002. -- Corporate -- Debt balance reduced by approximately $1.5 billion in first quarter. -- Corporate affected by merger-related items, a loss on early debt redemption, reduced capitalized interest, and insurance demutualization proceeds.

    Exploration and Production

    The table below (click here for graphs www.conocophillips.com) reflects market indicators for crude oil and natural gas. The company's actual crude oil and natural gas price realizations may vary from the market indicators due to quality and location differentials, as well as the effect of pricing lags.

    Market Indicators 1Q 2003 4Q 2002 1Q 2002

Dated Brent ($/bbl) $31.51 26.78 21.14

WTI ($/bbl) 34.06 28.20 21.56

ANS USWC ($/bbl) 33.23 26.75 19.90

Henry Hub first of month ($/mcf) 6.58 3.97 2.34

                                                   Source: Platt's

    The increases in U.S. crude oil and natural gas realizations are expected to be less than the increase in market indicators due to quality and location differentials, as well as the effect of pricing lags.     Upstream crude oil, natural gas and natural gas liquids (NGL) production for the quarter is expected to be higher than the previous estimate of 1.55 million BOE per day. Venezuelan operations resumed full production in early March, reaching approximately 80,000 barrels per day net to ConocoPhillips. Earnings from Venezuela in March will partially offset losses resulting from downtime in January and February.

    Refining and Marketing

    The table below (click here for graphs www.conocophillips.com) provides market indicators for regions where the company has significant refining operations. The Weighted U.S. 3:2:1 margin is based on the geographical location of ConocoPhillips' U.S. refineries.

    Market Indicators 1Q 2003 4Q 2002 1Q 2002

Refining Margins ($/bbl)

East Coast WTI 3:2:1                        $6.35     4.64   2.82

Gulf Coast WTI 3:2:1                         5.83     3.79   2.70

Mid-Continent WTI 3:2:1                      6.31     5.75   3.80

West Coast ANS 3:2:1                        12.79     8.40   9.67

Weighted U.S. 3:2:1                          7.15     5.29   4.15

NW Europe Dated Brent                        5.68     2.72    .74

WTI/Maya differential (trading month $/bbl) 7.65 6.04 5.42

                                                  Source: Platt's

    Realized refining margins may differ due to the company's specific locations, configurations, crude oil slates or operating conditions. As shown above, the weighted U.S. refining margin for the first quarter is expected to be higher than that of the fourth quarter. The improvement in the company's realized crack spreads were negatively affected by the impact of higher crude oil prices on co-product margins, as co-product prices do not fluctuate directly with the price of crude oil. Refinery co-product volumes, primarily petroleum coke and asphalt, represent about 10 percent of the company's product output. Further impacting realized crack spreads was the lack of crude oil availability from Venezuela during the first quarter, which led to a less-than-optimum crude slate in certain locations. Finally, the increase in crack spreads is expected to be offset in part by higher energy costs.     The company's average crude oil capacity utilization rate for the first quarter is expected to be in the low 90 percent range. The capacity utilization rate benefited from a full quarter of operations at the Humber refinery in the United Kingdom. This benefit was partially offset by crude sourcing issues created by a lack of Venezuelan crude at the company's U.S. refineries, as well as planned downtime at the Ferndale, Wash., Wood River, Ill., and Sweeny, Texas, refineries. Turnaround costs are expected to be in line with previously stated targets.     First quarter marketing margins and sales volumes are expected to be similar to those of the fourth quarter of 2002. However, as previously reported, 2003 net income will be negatively impacted by additional lease loss provisions stemming from the planned sale of a major portion of the company's retail sites. For the first quarter, these after-tax provisions are expected to be approximately $25 million related to continuing operations and $25 million related to discontinued operations.

    Midstream/Chemicals/Emerging Businesses Segments

    For the Midstream segment, first quarter results are expected to exceed the previous quarter as NGL sales prices increased more than raw gas feedstock costs. This segment reflects ConocoPhillips' 30.3 percent interest in Duke Energy Field Services, as well as consolidated midstream operations.     In the Chemicals business, poor market conditions deteriorated further in the first quarter, as this segment was negatively impacted by higher fuel and feedstock costs. Losses in this segment are expected to completely offset Midstream earnings.     Emerging Businesses' performance includes gas-to-liquids, carbon fibers, fuels technology, power generation, and emerging technology. Losses are expected to be similar to those of the fourth quarter of 2002.

    Corporate

    Corporate charges from continuing operations are estimated to be approximately $240 million. Corporate charges were impacted by reduced capitalized interest, the inclusion of merger-related expenses and a loss on early debt redemption, partially offset by insurance demutualization proceeds.     The effective tax rate for the first quarter is expected to be higher than that of the fourth quarter of 2002, primarily due to the absence of certain deferred state income tax benefits resulting from the fourth quarter retail asset impairment, and the expiration of Section 29 credits.     The company's debt balance at the end of the first quarter is expected to be approximately $18.3 billion, reflecting strong cash flow from operations, including working capital changes, and disciplined capital spending.     Effective Jan. 1, 2003, the company adopted Statement of Financial Accounting Standards No. 143 "Accounting for Asset Retirement Obligations." In the first quarter of 2003, the company is expected to report an after-tax benefit of approximately $137 million for the cumulative effect of this change in accounting principle.     The company anticipates that its synergy run rate will reach $1.25 billion per year by the end of 2003. Benchmarks used to measure progress on synergy capture, as well as the sources of the cost reductions achieved, will be discussed in the company's first quarter 2003 earnings release and conference call, expected on April 30, 2003.

    CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

    This update contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are about ConocoPhillips' business segments: exploration and production; refining and marketing; natural gas gathering, processing and marketing; chemicals and plastics manufacturing; and emerging businesses. There are also forward-looking statements about ConocoPhillips' expected sales prices for crude oil, natural gas and natural gas liquids; crude oil production; refining crack spreads; marketing margins; refinery utilization rates; sales volumes; corporate charges from continuing operations; effective tax rates; the company's debt balance; and synergy run rates. These statements are based on activity from operations for the first two months of the first quarter of 2003 and include estimated results for March, and as such are preliminary and are estimates. All of the forward-looking data is therefore subject to change. Actual results, expected to be reported in the company's earnings release for the first quarter of 2003 on April 30, 2003, may differ materially from the estimates given in this update.     Where in any forward-looking statement, the company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, there can be no assurance that such expectation or belief will result or be achieved. The actual results of operations can and will be affected by a variety of risks and other matters that could cause the stated expectation or belief to differ materially from that stated in this update.

--30--EB/ho*

CONTACT: ConocoPhillips, Houston
         Kristi DesJarlais, 281/293-4595

KEYWORD: TEXAS
INDUSTRY KEYWORD: ENERGY OIL/GAS
SOURCE: ConocoPhillips