Processing 2000 P

12/11/2000 -- Yetagun consortium refuses Thai rate request
After months of painstaking negotiations, the Yetagun gas developing group-led by Britain's Premier Oil PLC-continues to refuse Thailand's request to ease terms governing the Myanmar gas supply contract. The Yetagun consortium is supposed to receive a $70 million payment from PTT in March.
12/11/2000 -- Siam Gulf Petrochemical to build condensate splitter
Siam Gulf Petrochemical, an affiliate of Rayong Purifier Co., will invest 700 million baht ($16.66 million) to build a condensate splitter facility in the Thai southern province of Phetchaburi. Industrial Finance Corporation of Thailand has approved 1 billion baht of credit�half for constructing the plant and the other half in the form of letter of credit.
12/11/2000 -- Peru signs contracts for Camisea gas project
The new Peruvian government headed by President Valentin Paniagua signed Saturday the development and transportation contracts for the long-awaited Camisea natural gas project. Energy and Mines Minister Carlos Herrera said that several modifications had been made from the drafts by the previous government.
12/07/2000 -- California Energy Commission approves two plants
In the midst of the worst electricity crisis in state history, the California Energy Commission voted to license the proposed $300 million, 500 Mw Elk Hills and the $180 million, 320 Mw Sunrise power plants in western Kern County. Elk Hills is scheduled to be completed in the summer of 2002 and the Sunrise peaking project should be ready to deliver power this coming summer.
12/07/2000 -- Getty Petroleum Marketing accepts acquisition by Lukoil
The board of directors of Getty Petroleum Marketing Inc. (GPM) approved Russia's OAO Lukoil's offer to acquire GPM shares at $5/share in cash, rejecting a counteroffer made by United Refining �. Inc. Board members said they had determined that Lukoil's offer would better meet the interests of GPM shareholders.
12/07/2000 -- Electric Power newsbriefs, December 7
Invensys PLC ... Meterpoint Data Services Ltd. ... CheMatch.com ... YourEnergySource ... NUI Corp. ... Virginia Gas Co. ... Nicor Energy ... Tacoma Public Utilities ... Derivion Corp. ... LG&E Energy Corp. ... Powergen PLC ... Baltimore Gas & Electric ... Conoco Inc. ... Fortum Corp. ... Pipeline Engineering GmbH ... Podzemgazprom Ltd. ... Energy and Environmental Investments Inc. ... Reliant Energy Inc. ... Southern Co. ... Tennessee Valley Authority ... FriedWire Inc.
12/06/2000 -- Getty's board rejects United Refining's takeover offer
The board of directors for Getty Petroleum Marketing Inc. (GPM) says it will recommend the $5/share takeover offer made by Russia's OAO Lukoil earlier this year, even after receiving a second merger proposal from United Refining Co. Inc., through which GPM shareholders would have received $6/share in cash.
12/06/2000 -- Paraxylene production unit starts operation in Iran
A 180,000 tonne/year paraxylene production unit has gone on stream at the Bandar Imam petrochemical complex in Iran, Bandar Imam Petrochemical Co. Managing Director Abbas Sherimoqadam said Monday. He said the project, which started operations in October and reached 98% of capacity this month, had cost $82 million.
12/06/2000 -- Market watch, Dec. 6
Oil prices tumbled on the New York Mercantile Exchange Tuesday, on speculation that Iraq's oil export stoppage may soon be relieved. Other prices were mostly down due to several factors. An American Petroleum Institute report showing increases in distillate stocks allayed predictions of continuing cold weather in the US.
12/05/2000 -- United Refining bumps up offer for Getty Petroleum Marketing
United Refining Co. Inc. said Monday it was willing to counter an offer by OAO Lukoil Holding to acquire Getty Petroleum Marketing Inc. by increasing its offer to $6/share cash from $5.75/share and accepting a 'less favorable lease arrangement' with Getty Realty, GPM's sister real estate affiliate.
12/05/2000 -- Merchant power firms now 20% of US market
Nonutility electric companies are playing an increasingly larger role in the US electricity market. Merchant generation jumped 70% to 167,357 Mw in 1999, or about 20% of total US capacity, compared to 1998, as merchant power producers bought and built power plants to supply growing demand. Merchant power companies built 8,000 Mw of mostly gas-fired capacity in 1999, says the US Energy Information Administration, just a fraction of the 145,417 Mw the industry has announced plans to construct.
12/05/2000 -- Finance/Companies news briefs, Dec. 5
Grant Prideco � Weatherford International � WTG Gas Processing � Texaco Exploration & Production � Torch Energy Marketing � Energy Search � Southern Producer Services � Cross Timbers Oil � McMoRan Exploration � Shell Offshore � Plains Resources � Panaco � GulfWest Oil � Alberta Energy Co. � RBC Dominion Securities � Merrill Lynch Canada � Lukoil � and more
12/05/2000 -- NCRA, Farmland Industries to end joint venture
The National Cooperative Refinery Association (NCRA) and Farmland Industries Inc. of Kansas City, Mo., said Monday they will end their year-old Cooperative Refining LLC joint venture Dec. 31. NCRA and Farmland Industries founded the venture to jointly manage Farmland's 95,000 b/d refinery at Coffeyville, Kan., and NCRA's 80,000 b/d refinery at McPherson, Kan.
12/04/2000 -- Analysts: China may be causing 'missing barrels' effect
China's growing oil inventory and improved refinery utilization rate could explain the so-called missing barrels in global supply and demand analysis, said Credit Suisse First Boston Corp. (CSFB). It said many of the dislocations between supply, demand, and price are attributable to abnormal crude trading patterns by China's refining industry.
12/04/2000 -- Aux Sable liquid products facilities begin operations
Aux Sable Liquid Products Inc., Lisle, Ill., said operations began Dec. 1 at its gas liquids extraction and fractionation facilities in Channahon, Ill., in conjunction with the start-up of commercial service on the Alliance Pipeline system. Aux Sable's facilities will process gas delivered through the Alliance line from Canada at an initial rate of up to 1.6 bcfd.
12/04/2000 -- Online Feature: C-Port II latest addition to Port Fourchon
C-Port II is the latest addition to the rapidly expanding Port Fourchon on the Louisiana coast. Edison Chouest Co. built the facility as another of its one-stop logistics centers for fluids, bulk material, cement and pipe for offshore operators in the deepwater Gulf of Mexico.
12/04/2000 -- Thailand EGCO's boosts holdings in hydro power plant
Electricity Generating PLC(EGCO), Thailand's first independent power producer, has acquired an additional 5% stake in Laos' largest hydroelectric project from Transfield Pty Ltd. of Australia. The $4.9 million (US) deal marked the complete pull out of Transfield from the $1.1 billion Nam Thuen 2 power project, following its sale earlier of a 5% interest in the venture to Electricite de France (EDF).
12/01/2000 -- California governor proposes own plan for power market
California will encourage power plant construction, overhaul the boards of two state electricity agencies, and promote energy conservation, Gov. Gray Davis said Friday in a letter to the Federal Energy Regulatory Commission. He also reiterated his call for retroactive refunds to customers who paid high electric bills this past summer and said utilities should not be forced to sell off any more electric generating capacity, a condition of California's deregulation law.
12/01/2000 -- Iraq curbs oil exports in UN dispute
Iraq stopped its crude exports Friday, as part of its continuing efforts to breach United Nations trade sanctions imposed on that country. But that move is unlikely to have much immediate effect on world markets and probably won't last long, industry analysts said. US Energy Sec. Bill Richardson said Thursday that the Clinton administration might release more oil from the SPR to help offset the loss of Iraqi crude.
11/30/2000 -- Crown in 'strategic discussions'
Crown Central Petroleum Corp., Baltimore, Md., is discussing strategic alternatives with large shareholders, Apex Oil Co. and Rosemore Inc., officials said Thursday. On Nov. 1, Crown extended by 30 days the deadline for Apex Oil to make a definitive offer for that beleaguered company.

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