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Processing 2000 P12

  • 08/17/2000 -- National Petrochemical PLC to acquire Bangkok Polyethylene
    Flush from a second-quarter 429% jump in profits, National Petrochemical PLC of Thailand signed a memorandum of understanding Thursday to acquire Bangkok Polyethylene PLC, Thailand's largest producer of high-density polyethylene (HDPE). NPC agreed to buy the company's shares for cash. The price will be determined by a formal due diligence to be undertaken shortly.
  • 08/18/2000 -- NNPC: Refined fuel importation to continue after refinery maintenance is complete
    Importation of refined fuel products into Nigeria will continue even after the four Nigerian refineries have undergone maintenance turnaround and are operating at maximum capacity, said managing director of Nigerian National Petroleum Corp. Jackson Gaius-Obaseki in early July.
  • 08/21/2000 -- Enron to build Japanese power plant?
    Enron Corp. is denying reports that it is considering building a coal-fired power plant in Fukuoka Prefecture on the western main island of Kyushu, Japan. Enron International spokesman John Ambler said the company is not specifically looking at a coal-fired plant, although the Houston company is examining various options in Japan, including possibly building new generation.
  • 08/22/2000 -- Results signal Kvaerner 'back on track'
    Kvaerner ASA, the Anglo-Norwegian engineering and construction group, today claimed its first half results signaled the wholesale restructuring initiated last year by CEO Kjell Almskog is starting to bear fruit, although the company acknowledged its oil and gas business still needs 'strengthening to adapt to the significant changes in the marketplace.' Kvaerner's operating profit for the first half of the year totaled 541 million kroner�up 804 million kroner from the same period in 1999.
  • 08/22/2000 -- Power project protests could be limited
    California local government units will have 180 days to object to proposed power plant projects, under a measure overwhelmingly approved by the California State Assembly Monday and sent to the Senate. Presently, more than 15,000 Mw worth of projects are under review by the California Energy Commission. Under commission rules, project review is supposed to be completed within 1 year. Local government opposition can often hold up a project for years.
  • 08/22/2000 -- Pioneer Pipe Line begins expansion
    Pioneer Pipe Line Co. has begun construction of a 262-mile expansion of the pipeline carrying refined products from refineries in Montana and Wyoming to Salt Lake City, Utah, said Conoco Inc. Pioneer Pipe Line Co. is jointly owned by Conoco and Sinclair Oil Corp.
  • 08/22/2000 -- Transportation news briefs, Aug. 22
    Shamrock Logistics Operations�Nigerian National Petroleum Corp�Williams�Promax Energy
  • 08/22/2000 -- Indonesia seeks refined product supplies
    The Organization of Petroleum Exporting Countries' only net importer of oil, Indonesia, faces a shortage of processed fuels after refinery shutdowns over the last two months because of accidents.
  • 08/22/2000 -- Singapore refinery watchers worry about overcapacity, demand
    Despite Singapore refineries' temptingly strong profit margins driven by record-high gasoline prices, analysts remain concerned about the threat of overcapacity and uncertain demand growth for oil products. In particular, China's transformation into a net exporter of products has worried the market.
  • 08/22/2000 -- Peru relaunches privatization without Petroperu assets
    Peruvian President Alberto Fujimori announced on Aug. 17 the relaunching of Peru's privatization process, which involves investment commitments of up to $3 billion in the next 3 years. Fujimori recently appointed a new board of directors to Copri, the government�s privatization commission (OGJ Online, Aug. 15, 2000).
  • 08/23/2000 -- Iran boosts discovery rates in recent years
    In the 3 years since Iranian President Mohammad Khatami took office, about 5.34 billion bbl of crude oil and NGL and 855.3 billion cu m of natural gas have been discovered in Iran, an oil company official said here Monday. Quoted by the Iranian News Agency Monday, National Iranian Oil Co. (NIOC) First Deputy Managing Director Mehdi Mirmoezzi, noted that this increase in reserves is unprecedented in Iran's post-revolution period.
  • 08/24/2000 -- Finance/Companies news briefs, Aug. 24
    Shell Temir Petroleum Development � Maersk Oil Kazakhstan � Veba Oel Kasachstan � Tractebel � BG International � PTT Natural Gas Distribution � Fox Energy � Ivanhoe Energy � Prize Energy � Canadian Superior Energy ... Austeel Pty. Ltd. ... North West Shelf Venture
  • 08/25/2000 -- DEREGULATION BACKLASH IN THE PHILIPPINES
    An illuminating backlash against deregulation is taking shape in a corner of the oil market important for reasons other than size.
  • 08/25/2000 -- Northern Border Partners to buy some Wyoming Enron facilities
    Northern Border Partners LP, Omaha, Neb., said Thursday it's buying Enron North America Corp.'s natural gas gathering facilities in Wyoming's Powder River and Wind River Basins for $200 million.
  • 08/25/2000 -- Polyolefin joint venture buys Targor technology
    Three companies have announced agreements covering polyolefin production. ABB, a unit of the ABB Group, Zurich, said it has entered a joint venture with US company Equistar Chemicals LP to acquire a polypropylene technology from Targor GmbH, a subsidiary of Germany�s BASF AG. US company Engelhard Corp. has agreed to be the exclusive supplier of polyolefin catalysts to the joint venture, and has separately agreed to buy Targor's catalyst manufacturing facility in Spain.
  • 08/28/2000 -- UAE Offsets moves westward with refining-marketing megaproject
    UAE Offsets Group (UOG)�the Abu Dhabi-based, government-backed group sponsoring the Dolphin natural gas megaproject in the Arabian Gulf region�is making further plans, this time for an innovative retail marketing project in Europe and the US. The project is of similar scope to the Dolphin initiative but is designed to take the United Arab Emirates both downstream and westward.
  • 08/28/2000 -- New Power makes first market moves
    TNPC Inc. unit New Power Co., the retail electricity company formed by Enron Corp., America Online, and IBM, will begin selling electricity in 10 New Jersey and 4 Pennsylvania counties where incumbent utilities have the most favorable transition rules for competitive providers, the company said Monday.
  • 08/29/2000 -- Kværner sells construction arm as restructuring continues
    Anglo-Norwegian engineering and construction group Kværner ASA today announced it is to sell off all of its building and civil engineering interests�as well as its 50% share in Hong-Kong based Gammon Construction�to Swedish construction company Skanska AB as part of ongoing plans to focus its attentions on the oil and gas and industrial process technology sectors.
  • 08/29/2000 -- BASF-Sinopec selects Shaw to build China ethylene plant
    A consortium of BASF AG, China Petrochemical Corp. (Sinopec), and Sinopec subsidiary Yangzi Petroleum Corp. (YPC) has signed a letter of intent with the Shaw Group Inc., Baton Rouge, to provide engineering, procurement, and construction services for a 600,000 tonne/year ethylene plant and related facilities to be built at Nanjing, China. The LOI paves the way for negotiation of a turnkey contract.
  • 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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