VOL. XLVI

No 33

18-August-2003

SUPPLY/DEMAND

UBS Sees Majors 2Q Production Reduced By Asset Sales

The international oil and gas majors recorded lackluster production figures in 2Q03 on account of asset sales, according to UBS Investment Research. In the report Integrated Oils: Key Trends on Production/Capex/Exploration Expenditure, published on 30 July, UBS analysts Paul Ting, Neil Quach and Son Vann say that for majors reporting 2Q performance to date (BP, Shell, Amerada Hess, Marathon and...