US energy company Unocal Corporation (NYSE: UCL) said it expects capital expenditures by its subsidiaries for 2004 to reach US$1.93 billion, excluding $80 million of capitalised interest. The investment plan compares with an estimated $1.66 billion in capital expenditures, which excluded approximately $60 million in capitalised interest for 2003. For 2004, Unocal said it expects…