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Processing 2000 P20

  • 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.
  • 12/06/2000 -- 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.
  • 12/06/2000 -- 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 -- 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.
  • 12/07/2000 -- 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.
  • 12/07/2000 -- 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 -- 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.
  • 12/11/2000 -- 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.
  • 12/11/2000 -- 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 -- 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.
  • 12/12/2000 -- Electric Power news briefs, December 12
    Constellation Energy Group Inc. ... Niagara Mohawk ... New York State Electric & Gas ... Rochester Gas & Electric Corp. ... Central Hudson Gas & Electric Corp. ... Washington Gas ... US General Services Administration ... Smithsonian Institution ... IdaTech ... Tokyo Boeki Ltd. ... Calpine Corp. ... Cinergy Capital & Trading Inc. ... Enron North America ... Avista Utilities ... Centrica PLC ... Sempra Energy ... Energy America ... New Power Co. ... Emirates Power Linkage Corp.
  • 12/13/2000 -- Release of US strategic reserve crude reduced imports
    The American Petroleum Institute said November US oil imports were at their lowest level since last February because the federal government released 600,000 b/d from the Strategic Petroleum Reserve. Oil imports averaged 8.34 million b/d, compared with 8.94 million b/d for the year to date.
  • 12/13/2000 -- Phillips sells UK petrochemical subsidiary
    Phillips Petroleum Co. UK Ltd. Wednesday announced it has signed a deal to sell joint venture company Phillips-Imperial Petroleum (PIP) Ltd. to Petroplus International NV for $110 million as part of plans to focus 'more intensively' on its core UK E&P operations. The sale of PIP, part owned by Imperial Chemicals Industries PLC, is part of Phillips' global strategy to 'rationalize [the company's] assets in order to concentrate on [its] exploration and production portfolio.'
  • 12/14/2000 -- Electric Power news briefs, December 14
    UtiliCorp United Inc. ... Empire District Electric Co. ... Sempra Energy ... Reliant Services LLC ... Vectren Corp. ... Cinergy Corp. ... NiSource Inc. ... NRG South Central Generating LLC ... Louisiana Generating LLC ... Atlanta Gas Light Co. ... Abu Dhabi Gas Co. ... Statnett ... Norsk Hydro ... American Electric Power Co.Inc. ... Michigan Public Service Commission ... Duke Energy Field Services
  • 12/15/2000 -- A marriage of inconvenience
    One would have not a little difficulty convincing Aker Maritime AS and Kvaerner AS that the industrial logic of the consolidation has found its niche in the turn-of-the-millennium oil industry. The business of mergers and acquisitions has so far been nothing but heartache for these longstanding Norwegian offshore construction rivals.
  • 12/15/2000 -- MMS outlines royalty relief proposals
    US Minerals Management Service (MMS) officials outlined proposals Thursday at a workshop in Houston to amend the recently expired 1995 Deepwater Royalty Relief Act. Unlike that earlier act, MMS would give relief to shallow natural gas and ultradeepwater prospects instead of properties lying in 200-800 m of water.
  • 12/18/2000 -- Emergency works starts on North Dakota power line
    Construction will start immediately on an emergency replacement of the Ramsey-McHenry 230 kv transmission line, Great River Energy's only alternating current (AC) transmission line in North Dakota, the Minnesota cooperative said Friday. Work on the power line gets under way with The National Weather Service warning of white out conditions and the potential for 'dangerous wind chills' in the region Monday
  • 12/18/2000 -- Suncor Energy group restarts Australia shale plant
    A group led by Suncor Energy Inc. has restarted oil shale processing at its Stuart Project near Gladstone in Queensland, following completion of a planned 3-month turnaround. More than $6 million (Aus.) worth of equipment was installed at the plant as part of a program of emission and noise abatement.
  • 12/19/2000 -- Edison International affiliate seeks new financing for Thai coal plant
    Gulf Power Generation Co (GPG), partly owned by the US energy firm Edison International, is trying to get its delayed Bor Nok coal-fired power project in southern Thailand off the ground, in spite of opposition by local residents concerned about its potential social and environmental impact. The US-Thai joint venture is now moving to arrange about $600 million financing to replace the previous borrowing plan that was outdated because of changing conditions.
  • 12/19/2000 -- Promax expands southeastern Alberta gas plant
    Promax Energy Inc., Calgary, has expanded its producing facilities in Cessford, Alta., with the commissioning of a gas processing plant. The station, at 6-14-24-10 W4M, consists of a 20 MMcfd inlet separator, 10 MMcfd compressor, dehydrator, and hydrocarbon dewpoint control unit.

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