1.   The new petroleum regulatory agency has also announced which fields will be open to free competition in the near future.

2.   All oil firms belonging to the geology and mineral resources ministry will be transferred to the new petroleum company, he said.

3.   Late Friday, the government made a number of amendments to an initial draft, notably eliminating a clause calling for a new petroleum tax.

4.   Prescott said that BHP was looking for opportunities to expand in overseas steel production, by entering new petroleum product markets and through further diversification in minerals.

5.   The country has been seeking foreign participation in oil exploration through incentives offered in a new petroleum policy.