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Processing 2000 P10

  • 07/24/2000 -- Power reform tops Mexico President-elect Fox's agenda; clout questioned
    Just 2 weeks after Vicente Fox dramatically won Mexico's presidential elections and unseated the Institutional Revolutionary Party from the national government for the first time in over 70 years, the president-elect's transition team has already indicated that they will seek a further opening to private investment in Mexico's energy sector. It's an open question, however, whether Fox will have the political clout to undertake additional reforms in the state-run petroleum company Pemex.
  • 07/25/2000 -- Pertamina to cover gasoline shortfalls with imports
    The Indonesian government has asked state oil firm Pertamina to begin importing gasoline from Malaysia, Singapore, and China to cover a shortfall in the domestic market, caused by a 10% decline in output from local refineries.
  • 07/26/2000 -- Cat cracker installed at Turkmenistan refinery
    French engineering and construction firm Technip SA has nearly finished installing a fluid catalytic cracker at the Turkmenbashi refinery in Turkmenistan. The unit has capacity to process 1.8 million tonnes/year of oil and produce 900,000 tonnes/year of gasoline.
  • 07/27/2000 -- Petronas secures financing for petrochemical projects
    Malaysia's national oil company Petronas has raised $323.2 million to fund petrochemical projects via a term loan facility provided by a syndicate of financial institutions in Labuan, Malaysia.
  • 07/27/2000 -- FuelCell Energy nearing commercialization
    Betting on commercialization of its fuel cell power plants next year, FuelCell Energy Inc. broke ground Wednesday on a new manufacturing facility in Torrington, Conn. The company expects to begin taking commercial orders in 2001-2002.
  • 07/27/2000 -- Market watch, July 27
    Energy futures prices closed mixed in trading on the New York Mercantile Exchange Wednesday, with bullish inventory numbers from the American Petroleum Institute putting downward pressure on most prices. According to the weekly inventory report released by API after the end of trading on Tuesday, the nation's crude stocks added 1.88 million bbl to end at 293.75 million bbl.
  • 07/27/2000 -- Finance/Companies news briefs, July 27
    TNK-Ukraina � Lysychansknaftaorgsyntez ... Nafta Polska � Rafineria Gdanska ... Encal Energy
  • 07/28/2000 -- GCC studies gas grid proposal
    The Doha-based Gulf Organization for Industrial Consulting, a Gulf Cooperation Council think tank, is studying the feasibility of a proposed $2 billion gas grid project among GCC countries.
  • 07/28/2000 -- Repsol-YPF to sign $1 billion swap accord Monday
    The Brazilian oil major Petroleo Brasileiro SA and Spain's Repsol-YPF SA have finalized an agreement to swap assets, said a Petrobras statement. Signing of the memorandum of understanding will take place on Monday. The transaction was originally announced in April. The assets involved in this swap are worth more than $1 billion; the definitive figure will be released within 2 to 3 months.
  • 07/28/2000 -- Netherlands company invests in Pakistan LPG market
    Steenkolen Handels Verccniging (SHV), based in The Netherlands, has planned an initial investment of $100 million in Pakistan's liquefied petroleum gas market. The company said its investment in Pakistan will reach $25 million by yearend.
  • 07/31/2000 -- Tosco to acquire Irish National Petroleum assets
    Major independent refiner Tosco Corp., Stamford, Conn., said Monday it's taking its first step outside the US market by purchasing all the assets of Irish National Petroleum Corp. Ltd., for $100 million, plus the value of crude oil and products inventory. The assets being acquired include a 75,000 b/d refinery located in Cork, Ireland, and an 8.5 million bbl, deep water crude oil and oil products storage complex located in Bantry Bay.
  • 08/01/2000 -- California ISO forecasts record power use
    The California Independent System Operator is forecasting a electricity demand will hit a record 46,245 Mw today, breaking the previous record of 45,884 Mw set July 12 last year. Southern California Edison spokesman Tom Boyd said the utility interrupted 2,400 Mw Monday, the maximum available in its portfolio of customers who receive discounts in exchange for having their power reduced during peak demand.
  • 08/01/2000 -- Karsto expansion in home stretch
    Statoil AS�s ambitious 10.4 billion kroner project to expand its Karsto treatment facility north of Stavanger will soon be ready to receive gas from the giant Asgard field in the Norwegian Sea, according to the oil company. Aastein Austerheim, manager for commissioning and operation of the Asgard facility at Karsto, said some 10% if system-testing remains to be carried out, while start-up activities are 50% complete.
  • 08/01/2000 -- Irish minnow snaps up BP gas fields
    BP and Tullow Oil PLC yesterday finalized a deal through which the Irish independent will buy two packages of southern North Sea assets formerly held by ARCO through a $305 million cash-only transaction. The sale is designed to secure the European Commission�s approval for BP�s takeover of ARCO.
  • 08/01/2000 -- LL&E awards gas plant expansion contract
    Louisiana Land & Exploration Co. (LL&E), a wholly owned subsidiary of Houston-based Burlington Resources Inc., has awarded a $200 million-plus turnkey project to Washington Group International Inc., Boise, Ida., to expand LL&E's Lost Cabin Gas Plant facility in central Wyoming. The project will more than double the existing capacity of the plant to 180 MMcfd of gas.
  • 08/02/2000 -- Electric Power news briefs, August 2
    Chesapeake Utilities Corp. ... Duke Engineering & Services ... Blakey & Blakey .... AES Corp. ... TransCanada PipeLines Ltd. ... KeySpan Corp. ... American Transmission Co. LLC ... Convergent Group Corp.
  • 08/02/2000 -- Market watch, Aug. 2
    Energy futures prices rose sharply in trading on the New York Mercantile Exchange Tuesday. Crude oil prices in particular were boosted by news that the Organization of Petroleum Exporting Countries might not raise production to lower prices.
  • 08/02/2000 -- Saudi Coral to expand Moroccan refinery
    A subsidiary of the Sweden-based Saudi Coral Group said it would invest $600 million over the next 4 years to expand the Al Muhammadiyah refinery in Morocco.
  • 08/03/2000 -- Williams makes major Canadian midstream purchases
    Tulsa-based integrated energy giant Williams has made two acquisitions of key Canadian NGL and gas processing assets. Williams agreed today to purchase TransCanada PipeLines Ltd.'s interests in the Cochrane, Redwater, Empress II, Empress V, and Younger NGL extraction plants and the West Stoddart gas processing plant. Separately, Williams reached an agreement to buy Dow Chemical Co.'s 32.5% interest in the Cochin NGL and ethylene pipeline system.
  • 08/04/2000 -- GOP platform calls for strong US energy policy
    The Republican Party has approved a 2000 US presidential campaign platform that calls for a strengthening of the domestic energy industry. The strategy involves, among other things, exploration and development of the Alaskan coastal plain east of Prudhoe Bay field.
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