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Processing 2000 P13

  • 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.
  • 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.
  • 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.
  • 09/05/2000 -- 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.
  • 09/05/2000 -- 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
  • 09/06/2000 -- 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�.
  • 09/06/2000 -- 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 -- 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.
  • 09/07/2000 -- 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.
  • 09/08/2000 -- 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.
  • 09/11/2000 -- 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.
  • 09/11/2000 -- 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 -- 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 -- 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 -- 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.
  • 09/12/2000 -- Asian natural gas rebounding after economic crisis
    Natural gas demand in Asia is on the rise, after being restrained for 2 years as a result of the economic crisis in the region, an industry conference was told here Monday. In an address at Gasex 2000, a natural gas conference being held in this Thai resort city, Mohamed Hassan Marican, CEO of Malaysian state oil corporation Petronas, noted that the strong growth projected in electricity consumption in the recovering economies of the Asia-Pacific region is a key reason for rising gas demand.
  • 09/12/2000 -- TXU signs new wind purchase agreement
    TXU Electric & Gas, a unit of TXU Corp., said it has agreed to buy 31.5 Mw from a soon-to-be constructed 82.5-Mw wind farm near Pecos, Tex. In July, TXU announced a contract to purchase renewable energy from a 160 Mw wind farm in west Texas and is also buying power from a 40 Mw wind farm near Big Spring, Tex. These projects will help in meeting Texas's legally mandated requirement to have 2,000 Mw of new renewable power projects developed by Jan. 1, 2009.
  • 09/13/2000 -- API says US needs energy strategy
    Red Cavaney, American Petroleum Institute president, Wednesday called for the US to open a debate about drafting a national energy strategy. Cavaney told a meeting of the National Association of State Energy Officials in Redondo Beach, Calif., that there is a widening gap between the growing energy demands of the US economy and the country's ability to meet those needs from its own resources.
  • 09/13/2000 -- Oil groups urge Supreme Court to overturn Unocal patent
    The American Petroleum Institute, the National Petrochemical & Refiners Association, and the Western States Petroleum Association Wednesday urged the US Supreme Court to review a lower court decision upholding a Unocal Corp. patent. The lower court ruling upheld the validity the patent, which covers the composition of reformulated gasolines.
  • 09/13/2000 -- US distillate output at record in August
    The latest statistics report by the American Petroleum Institute revealed increases in almost all production, delivery, and inventory categories in August, with the exception of US crude production, which fell for the month.
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