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NEWS BULLETIN

August 13, 2002 --- Vol. 8, No. 82August 2002

Shell to convert 21 Anchorage Texaco stations to Shell brand

Shell Oil Products US said today that it will be converting up to 21 Texaco stations to the Shell brand in the Anchorage area as part of the company's national re-branding effort.

Shell and its affiliates acquired the service stations as part of an agreement to allow the Chevron merger with Texaco to proceed and plans to convert the majority of the 13,000 Texaco stations to the Shell brand.

Shell said it expects to complete the conversion process in Anchorage by the end of the year, and nationwide by June 2004.

"We are bringing to Anchorage a new, revitalized Shell brand, with a line of products that provides powerful benefits to consumers including fuels that provide protection and enhanced performance to vehicles, quality lubricant products and modern, updated convenience stores," said Russell Caplan, vice president of retail for Shell Oil Products US.

The company said that upon completion of the nationwide two-year conversion process, Shell Oil Products US will be the only gasoline retailer in all 50 states.

ANS production down 9.5 percent in July

Alaska North Slope crude oil production averaged 934,479 barrels per day in July, down 9.46 percent from a June average of 1,032,085 bpd. Alpine production held about level, with an increase averaging 134 bpd; all other North Slope fields had production declines from June to July.

The Department of Revenue said compressor problems at Alyeska Pipeline Service Co. in mid-July contributed to production decreases. Alyeska had the pipeline down for planned maintenance July 27-28 and the company said that flow into pump station 1 was approximately 30 percent of typical flow rate throughout the shutdown.

Prudhoe Bay saw the steepest decline in production, down 13.1 percent to an average of 444,938 bpd in July, a drop of more than 67,000 bpd from the field's June average of 511,991 bpd.

Endicott had the second steepest decline, with July average production of 27,167 bpd down 12.4 percent from a June average of 30,999 bpd.

Lisburne averaged 64,855 bpd in July, down 9 percent from a June average of 71,288 bpd. Production from Kuparuk River averaged 197,328 bpd in July, down 6.5 percent from June average production of 211,015 bpd.

Northstar production averaged 57,221 bpd in July, down 6.2 percent from a June average of 60,980 bpd. Milne Point production averaged 47,874 bpd, down 5.9 percent from a June average of 50,850 bpd. Alpine production averaged 95,096 bpd in July, up 0.1 percent from a June average of 94,962 bpd.

Cook Inlet averaged 32,161 bpd in July, up 1 percent from a June average of 31,850 bpd.

Prudhoe Bay natural gas liquids production averaged 31,342 bpd in July, down 22.6 percent from an average of 40,506 bpd in June.

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