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Processing 2000 P

  • 09/11/2000 -- Tyumen Oil secures loans for Samotlor project
    Russian President Vladimir Putin on Friday welcomed the signing of agreements governing portions of a $672 million loan package for Russia's Tyumen Oil Co. Dallas-based Halliburton Co. will use $292 million of the 10-year loans to fund a 3-year project to stop the decline and maintain production of Tyumen's 320,000 b/d of crude interest in Siberia's giant Samotlor oil field.
  • 09/11/2000 -- Chevron, NNPC launch Nigeria natural gas initiative
    Chevron Corp. and Nigerian National Petroleum Corp. (NNPC) unveiled plans Friday to launch a major initiative to convert Nigerian natural gas into liquid fuels and to significantly reduce the amount of gas being flared in their Nigerian joint venture operations. Under the initiative, $2 billion will be invested in two projects�the Escravos Gas Project Phase 3 and the Escravos gas-to-liquids (GTL) development�both targeted for completion in 2005.
  • 09/11/2000 -- Mitchell Energy completes system expansions
    Mitchell Energy & Development Corp., The Woodlands, Tex., said Monday it has completed two pipeline system expansion projects in North Texas, enabling the firm to boost its natural gas sales and NGL production.
  • 09/11/2000 -- Electric Power news briefs, September 11
    Lodestar Corp. ... Enron Corp. ... Shell Energy Services Co. ... Reliant Energy Inc. ... Capstone Turbine Corp. ... Solar Turbines Inc. ... Sempra Energy ... Southern California Gas Co. ... Southern Union Co. ... Fall River Gas Co. ... Providence Energy Corp. ... Valley Resources Inc. ... Gulfstream Natural Gas System LLC ... Coastal Corp. ... Alliance Pipeline ... KeySpan Corp. ... TXU Energy Services ... myHomeKey ... Hydrogen Burner Technology Inc.
  • 09/11/2000 -- PG&E orders 50 turbines producing 16,000 Mw
    PG&E Corp. said its National Energy Group has executed contracts to secure 50 turbines representing a development portfolio of about 16,000 Mw of electric power. Experts estimate the value of the machines at about $1.5 billion. The contracts mark PG&E National Energy Group's largest turbine commitment to date and diversifies its turbine portfolio. Delivery of the turbines is scheduled through 2004.
  • 09/11/2000 -- Wisconsin Energy halves dividend, plans $6 billion in investments
    With state electricity demand growing 3%/year, Wisconsin Energy Corp., Milwaukee, said Sunday it will cut its dividend 50% to help finance a controversial $6 billion, 10-year plan to construct more electric generation, including new coal-fired plants; new distribution facilities; and upgrades to existing facilities. Overall, the proposal includes spending about $3.3 billion on electric generation and $2.7 billion on distribution.
  • 09/08/2000 -- India moves stakes in four refineries to state firms
    In a bid to pave the way for possible future privatization, the Indian government has decided to sell its four stand-alone refineries to state firms Indian Oil Corp. (IOC) and Bharat Petroleum Co. Ltd. (BPCL) for an estimated 18 billion rupees ($393 million). This will make the two public-sector units stronger and ensure that they fetch more when the government privatizes them.
  • 09/07/2000 -- Electric Power news briefs, September 7
    NCC ... WPD Ltd. ... Hyder PLC ... PPL Corp. ... Southern Co. ... Epcor ... UtiliCorp... CIT ... Calpine Corp. ... John Hancock Financial Services Inc. ... Cigna ... New York Life .... Beijing Datang Power Generation Co.Ltd. ... Shanghai Westinghouse Control Systems Co. Ltd. ... Koch Energy ... DTE ... MCN Energy ... Jenkins Gas & Oil Co. Inc. ... CP&L Energy ... American Superconductor ... Detroit Edison ... PG&E ... Edison Sault Electric ... Duke Energy ... Sempra Energy Europe Espana
  • 09/07/2000 -- TransCanada buys WestCoast's cogen plant interests
    Continuing its pursuit of the electric power business, TransCanada Power LP, a unit of TransCanada Pipelines Ltd., Calgary, has agreed to purchase Westcoast Energy Inc.'s interests in five Canadian cogeneration plants in a deal valued at $512 million (Can.), including assumption of $278 million in debt, Westcoast reported. Westcoast said it will net $75 million after taxes and other costs, upon completion of the transaction.
  • 09/06/2000 -- Japanese bank inks line of credit for PDVSA
    A group of banks led by Japan Bank for International Cooperation have signed a $500 million line of credit for Venezuelan state oil corporation Petroleos de Venezuela SA to fund the expansion of the Puerto La Cruz refinery.
  • 09/06/2000 -- Gulf Canada announces Dutch, Canadian gas finds
    Gulf Canada Resources Ltd., Calgary, on Tuesday announced two natural gas discoveries, one located in the P9 block in the Dutch sector of the North Sea and the second in Canada.
  • 09/06/2000 -- Market watch, Sept. 6
    Energy futures prices rose again in trading on the New York Mercantile Exchange Tuesday. The October contract for benchmark light, sweet crude oil put on 45� to settle at $33.83/bbl, while the November contract stood at $32.98, up by 56�.
  • 09/05/2000 -- France reduces fuel taxes; asks oil industry to take up slack
    Suffering from strikes by truckers and farmers hit by high diesel oil prices, not to mention general consumer discontent, the government is asking the oil industry to contribute to the 2001 national budget in order to make up for a 30% tax cut it has decided to grant on domestic fuel oil. The government's offer of a tax cut, plus other measures, has been rejected by truckers and farmers as insufficient, however.
  • 09/05/2000 -- Electric Power news briefs, September 5
    Massachusetts Electric Co. ... National Grid USA ... San Diego Gas & Electric Co. ... Astoria Generating Co. ... Orion Power Holdings Inc. ... Engage Energy ... Coastal Corp. ... Westcoast Energy Inc. ... El Paso Energy Partners LP ... Equitable Resources ... Crystal Gas Storage ... Calpine ... Sumitomo Corp. ... Energy East Corp. ... CMP Group ... Berkshire Energy Resources ... and CTG Resources ... GE MicroGen ... Soroof Trading Development Co. ... Rahim Afrooz. ... UGI Corp. ... Conectiv
  • 09/05/2000 -- Market watch, Sept. 5
    North Sea Brent crude and gas oil futures soared in London Monday, following news of a fire at the TotalFinaElf SA refinery at Le Havre in France, the country's biggest plant. Since the refinery is one of the largest gas oil-producing plants in Europe, the news caused a sharp rise in gas oil futures values, which, in turn, pulled Brent up.
  • 09/04/2000 -- Finance/Companies news briefs, Sept. 4
    Teton Petroleum � VISTA Midstream Solutions � TransCanada PipeLines � Devon Energy � Santa Fe Snyder � Sonatrach � Sonelgaz � Nalco/Exxon Energy Chemicals LP � International Specialty Chemicals � Gulfstream Resources Canada � BP � ENI � Agip E&P Division � FMC Kongsberg International � Beta Oil & Gas � Red River Energy � Louis Dreyfus Natural Gas � Magnum Hunter Resources � Coflexip Stena Offshore � Cal Dive International � Pertacal Energy � Gazprom � Stewart & Stevenson � and more
  • 09/01/2000 -- Kårstø ships out first ethane
    Statoil shipped out its first cargo of liquefied ethane from its recently expanded Kårstø plant, north of Stavanger on Aug. 30. Bound for Bamble, south of Oslo, the 2,600 tonne consignment was produced during testing at the plant's new ethane processing facility and is the first shipment of this commodity between two Norwegian industrial plants.
  • 09/01/2000 -- Market watch, Sept. 1
    A warning by Venezuelan President Hugo Chavez that the Organization of Petroleum Exporting Countries will likely increase production if oil prices remain above $28/bbl through mid-September weakened international futures markets Thursday.
  • 08/31/2000 -- E-procurement hub gets rolling
    E-commerce expanded its role in the oil and gas industry's supply chain yesterday with Norwegian state oil company Statoil AS announcing it had taken a 4% share in a new electronic procurement marketplace called Trade-Ranger. Statoil said it was committed to investing close to 40 million kroner in the e-business venture, which has the backing of 14 energy and petrochemical companies.
  • 08/30/2000 -- Hyundai confirms North Korea petrochemical complex plan
    South Korea's largest industrial conglomerate, the Hyundai Group, says that it is still hoping to build a petrochemical complex in North Korea by 2008, although it adds that the original plan to build an oil refinery alongside is now looking doubtful. The facilities would be subsumed under the third phase of a larger project to establish a special economic zone at Kaesong, 8 km from the border with South Korea.
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