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Processing 2000 P17

  • 10/27/2000 -- Export-Import Bank finalizes guarantee agreement for Ryazan refinery
    Tyumen Oil Co. has signed an agreement for a $198 million loan guarantee from the US Export-Import Bank to modernize the Ryazan refinery, 120 miles southeast of Moscow, said Tyumen Friday. The deal was part of a delayed $672 million loan package. The Rayazan loan had been in limbo for more than a year because of BP opposition over Tyumen's takeover of Chernogorneft (OGJ Online, Apr. 10, 2000).
  • 10/30/2000 -- Electric Power news briefs, October 30
    Otay Mesa Generating Co. LLC ... TECO Energy Inc. ... GenPower LLC ... Singapore Petroleum Co. ... Puget Sound Energy ... Mitsubishi Heavy Industries ... Stone & Webster Engineering Corp. ... General Electric Co. ... Sumas Energy 2 Inc.
  • 10/31/2000 -- AEP, TXU to build 130 Mw wind power project
    TXU Electric & Gas, a subsidiary of TXU Corp., and American Electric Power Inc. will build a 130 Mw wind power project for about $143 million near Abilene, Tex., the companies reported Tuesday. AEP will develop, own, operate, and maintain the project and will also be involved in the project's construction. TXU Electric & Gas will buy power produced by the Trent Mesa project in West Texas for at least 10 years.
  • 10/31/2000 -- PSEG Power buys 30 turbines for $862.8 million
    Reflecting its push into independent power generation, PSEG Power said it has contracted to purchase 30 gas and steam turbines for $862.8 million from GE Power Systems, a unit of General Electric Co., bringing to 76 the number of turbines the company has purchased under a program initiated 2 years ago.
  • 10/31/2000 -- California ISO votes to buy peaking power
    In a contentious session, the California Independent System Operator board Monday evening voted to enter into contracts for 2,000 Mw of electric peaking power for $255 million/year for 3 years. The emergency meeting was called earlier Monday to respond to a request from the state�s Electricity Oversight Board (EOB) to defer signing the contracts until the state's electric utilities had a chance to submit bids to supply the peaking power themselves.
  • 11/01/2000 -- Saudi Arabia increases petrochemical production, increases natural gas consumption
    Saudi Arabia has raised its share in global petrochemical markets by 10% or 15 million tons/year, said Prince Abdullah bin Faisal bin Turki at an energy meeting, the Saudi Press Agency reported. Also at that meeting, he and Saudi Arabia's minister of industry and electricity discussed the need for investment in the natural gas sector.
  • 11/01/2000 -- Market watch, Nov. 1
    International future markets apparently were no longer spooked Tuesday by OPEC's latest production increase, although prices declined slightly overall. The American Petroleum Institute reported US distillate fuel stocks increased while crude and gasoline inventories declined.
  • 11/01/2000 -- Oman Oil delays finalizing Bina stake
    Oman Oil Corp., which was to have finalized its stake in the Bina oil refinery in Madhya Pradesh by Tuesday, is taking more time to confirm its participation. This latest delay has given rise to speculation that Oman Oil may be planning to pull out of the project.
  • 11/01/2000 -- FERC California order 'overreaching,' says Hebert
    Federal Energy Regulatory Commissioner Curt Hebert said a proposed order to overhaul the California wholesale electric markets is 'overreaching' and will prolong the transition to workably competitive markets. But he stopped short of dissenting with his colleagues on the proposal released today. 'I�m close to a conviction that the commission is moving in the wrong direction,' he said. 'But it�s not the last word. It�s only a proposed order.'
  • 11/01/2000 -- Crown Central again extends deadline for Apex offer
    Crown Central Petroleum extended another 30 days the deadline for Apex Oil Co. to begin its all-cash tender offer for that company. Crown Central officials previously had moved the deadline to Tuesday from the original Sept. 29 target date for Apex to complete its due diligence.
  • 11/01/2000 -- General interest news briefs, Nov. 1
    National Petrochemical and Refiners Association � Occupational Safety & Health Administration � Australia � National Energy Policy Office
  • 11/02/2000 -- Market watch, Nov. 2
    Prices increased Wednesday in international energy futures markets as traders' concerns over winter inventories outpaced the prospect of increased supplies from the Organization of Petroleum Exporting Countries.
  • 11/02/2000 -- Saudi Arabia creates new petrochemical company
    Saudi Arabia, the Middle East's largest petrochemical producer, has established a new petrochemical firm with a capital of $133 million. The Saudi-owned Asharq al Awsat newspaper, quoting an official statement, said Saudi Arabian Minister of Commerce Osama Faquih approved establishment of the National Petrochemical Industrialization Co., to manage, operate, and own petrochemical and chemical projects and market their products.
  • 11/03/2000 -- Market shrugging off OPEC output hike belies underlying volatility
    The market's indifference to the latest OPEC production increase belies the underlying volatility of oil prices in the months ahead.
  • 11/03/2000 -- The army and oil
    It should be no surprise that Venezuelan Pres. Hugo Chavez, a former army paratrooper, has turned to the army to help him manage state oil company Petroleos de Venezuela SA.
  • 11/03/2000 -- $225 million olefins complex planned at Port Arthur
    A joint venture plans to build a $225-million, world-scale, integrated C4 olefins complex at Port Arthur, Tex. Two of the companies in the venture also plan to build a $25 million olefins conversion unit nearby. Construction of both plants is due to begin in the second quarter and be completed in the first half of 2003.
  • 11/03/2000 -- Lukoil acquires Getty in first deal of its kind for a Russian firm
    Lukoil, Russia's largest oil company, is acquiring Getty Petroleum Marketing Inc., one of the largest independent US marketers of gasoline and petroleum products, in a $71 million cash deal. The transaction marks the first acquisition of a publicly-held US company by a Russian corporation and the first step in Lukoil's proposed expansion into the US market, officials said.
  • 11/03/2000 -- US greenhouse gas emissions rise in 1999
    US total greenhouse gas emissions rose 0.8% in 1999 to 1,833 million tonnes of carbon equivalent (MMTCe), according to government estimates, compared to 1998 levels. Analysts at the US Energy Information Administration said the increase was slightly lower than the 1.1% average annual increase that characterized total US greenhouse gas emissions during the 1990s but significantly higher than the 0.1% growth between 1997-1998.
  • 11/03/2000 -- Electric Power news briefs, November 3
    Detroit Edison Co. ... Empire Energy Corp. ... Commonwealth Energy Corp. ... Evergreen Resources Inc. ... Cherryland Electric Cooperative ... Great Lakes Energy Cooperative ... HomeWorks Tri-County Electric Cooperative ... Presque Isle Electric & Gas Co-op ... AES Corp. ... Gener SA ... TransAlta Corp. ... Dominion Energy ... Cleveland Thermal Energy Corp. ... Cleveland District Cooling Corp. ... Madison Gas and Electric Co. ... NiSource Inc.
  • 11/03/2000 -- Unocal begins production from marginal Indonesian field
    Unocal Corp. has begun producing 4,700 b/d of crude oil from Mahoni field off Indonesia's Borneo Island. Production started from a single well in Balikpapan Bay, off East Kalimantan. Unocal plans to bring another three wells in the field on stream by the end of this year.
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