Resolution 1441, that Iraq must accept or reject within seven days, giving United Nations inspectors the unconditional right to search anywhere in Iraq for banned weapons. Furthermore, Iraq will have to make an "accurate full and complete" declaration of its nuclear, chemical, biological and ballistic weapons and related materials used in civilian industries within 30 days. The resolution requires violations to be reported back to the Security Council by inspectors before any actions could be taken against Iraq for violating weapons bans. (Reuters) November 13: In a letter to United Nations (UN) Secretary General Kofi Annan, Iraq accepts UN Security Council resolution 1441 of November 8, granting UN inspectors the right to conduct unfettered inspections in Iraq, "despite its bad contents." In the letter, Iraq also denies that it possesses any weapons of mass destruction. (AP) November 14: The TengizChevroil consortium, a consortium of companies led by operator ChevronTexaco that is developing the estimated Tengiz oil field in Kazakhstan, announces that the consortium has decided to indefinitely suspend investment in the second phase of the project. Production from the first phase was about 12.5 million metric tons in 2001 (about ). The second phase would require about $3 billion of investment in order to boost the project's output by about 3 million metric tons per year (about ). (WMRC) November 15: The U.S. Strategic Petroleum Reserve, an emergency crude oil stockpile administered by the U.S. Department of Energy, reaches , the largest amount in the reserve since it was initiated in 1977. (Reuters) November 18: The tanker Prestige, loaded with of Russian fuel oil, splits in two and sinks off the coast of northwest Spain. The tanker, flying a Bahamian flag and owned by a Liberian company based in Athens, Greece, spills about of the fuel oil from a crack before sinking, polluting beaches in the region and harming marine life. Fuel oil may continue leaking from the sunken ship. (WSJ, WP) November 26: Murphy Oil of the United States announces the discovery of to of oil in the Kikeh field off the coast of Malaysia's Sabah region on the island of Borneo. This is one of the largest discoveries in Southeast Asia in recent years. (WMRC) November 27: Officials of four of Russia's largest oil companies, Lukoil, Yukos, Sibneft, and Tyumen, announce a preliminary agreement for a joint project to build a $1.5 billion Arctic oil port near the