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Processing 2000 P5

  • 06/01/2000 -- Finance/Companies news briefs, June 1
    Texaco ... Tyumen ... Nova Chemicals � Dynegy � Ontario Teachers Pension Plan Board � Talisman Energy � Tuboscope � Varco ... Krescent Energy ... EEX Operating
  • 06/01/2000 -- FERC conditionally approves merchant transmission line
    The US Federal Energy Regulatory Commission Wednesday conditionally approved TransEnergie US Ltd.'s request to sell electric transmission capacity on a high-voltage undersea cable to be built between Connecticut and Long Island, NY.
  • 06/01/2000 -- Dynegy starts up Calcasieu power plant
    Dynegy Inc., Houston, on Wednesday said that commercial operations have started at the Calcasieu power generation facility near Lake Charles, La. The 155-Mw, natural gas-fired plant is the second power plant developed by Dynegy under its $5 billion generation expansion program.
  • 06/01/2000 -- GM to test GTL-derived synthetic fuels
    Detroit-based General Motors Corp. will test Syntroleum Corp.'s synthetic fuels, derived via gas-to-liquids processing, for advance power train systems, according to an agreement between the companies announced June 1.
  • 06/02/2000 -- Thai government gives petrochemical projects special tax treatment
    The Thai government has granted eight petrochemical projects special tax and import duty exemptions to capitalize on an anticipated upturn in world markets. Most of the schemes are geared towards expanding production capacity, improving economies of scale, and meeting competition.
  • 06/02/2000 -- Shell in final talks to sell China LGP facilities
    Royal Dutch/Shell Group is in the final stages of talks aimed at selling its remaining LPG assets in China as part of its global business restructuring process.
  • 06/05/2000 -- Suncor completes 6-day oil shale plant test
    Suncor Energy Management, operator of the Stuart oil shale pilot plant near Gladstone, Queensland, has completed a 6-day test run of the unit, which uses the Taciuk process. The company, a subsidiary of Suncor Ltd., Calgary, says the run was designed to test the effect of an initial series of planned operational and facility improvements to mitigate odor, sulfur dioxide, and shale particulate emissions noted in earlier test runs at the pilot plant.
  • 06/05/2000 -- Japanese refiner-marketers enter pleas in bid rigging case
    During the first hearing at the Tokyo High Court of the bid-rigging case involving the 1998 sale of fuel to Japan's Defense Agency, only 3 of the 11 indicted oil distributors and three officials from the firms pleaded not guilty to the charge. Eleven oil companies and nine officials from seven of the firms have been indicted for an alleged violation of Japan's Antimonopoly Law.
  • 06/06/2000 -- Finance/Companies news briefs
    MarkWest Hydrocarbon Inc. � Star Gas Partners LP � Balli Group � Amir Kabir Petrochemical Co. � Velvet Exploration Ltd. � PanAtlas Energy Inc.
  • 06/06/2000 -- Phillips to expand Borger refinery
    Phillips Petroleum Co. Tuesday announced plans to increase capacity at its Borger, Tex., refinery by 20,000 b/d to 145,000 b/d. The firm will initiate a debottlenecking project later this year, with completion slated for 2002.
  • 06/07/2000 -- Banc of America raises refiner earnings estimates
    A tight gasoline market and the rising probability of a tight distillate market for the winter heating season have prompted Banc of America Securities LLC to raise earnings estimates for refiners. BAS increased its second quarter 2000 earnings per share (EPS) estimates for independent refiners by 30% to $436 million and its full-year 2000 EPS estimates 17% to $1.64 billion.
  • 06/07/2000 -- Nigeria fuel price rise prompts protest
    While labor unions urged workers to stay off the job Thursday in protest, Nigerian government officials said an increase in petroleum product prices at the pump will save the government $18 billion/year. Jackson Gaius-Obaseki, group managing director of the state-run Nigerian National Petroleum Corp., said raising prices is the only option because the corporation could not recover production costs at the old pump prices.
  • 06/08/2000 -- Petrochemical price rally misleading, says analyst
    Recent petrochemical prices increases could be a 'fool's rally,' says a Probe Economics analyst who expects petrochemical and polyolefin prices to remain flat until about 2002, when economic recovery in Asia is expected to finally take hold and demand for petrochemicals and polymers is forecast to catch up with capacity.
  • 06/08/2000 -- Electric Power news briefs, June 8
    Unitil ... Enemetrix ... LG&E Corp. ... American Electric Power Co. ... Hawks Industries ... DaimlerChrysler ... Coral Energy LP ... WeatherMarkets.com ... BP Amoco ... Ireland Power Energy ... Anglo American
  • 06/08/2000 -- Market Watch, June 8
    Oil futures prices rose on international markets Wednesday, again approaching the seemingly magical level of $30/bbl. Natural gas prices declined.
  • 06/08/2000 -- Risk-based technique to extend inspection intervals at French refinery
    A Bureau Veritas-Ipedex consortium has secured a 15-month contract to develop a risk-based inspection (RBI) program for the Elf Antar France refinery at Grandpuits. Under this contract, inspection plans based on investigation of the critical nature of equipment will be developed, aiming at obtaining a 1-year postponement of shutdown for maintenance of most of the refinery units.
  • 06/09/2000 -- Moody's says oil and gas debt ratings outlook stable to positive
    The ratings outlook for most issuers of debt in the high-yield oil and natural gas sector is stable to positive, Moody's Investors Service, New York, says in a new report. Analyst Andy Oram says he sees the potential for a range of high-yield upgrades, although ratings changes will also take into consideration cyclical commodity, financial, and asset markets.
  • 06/09/2000 -- Exelon buys four firms for $95 million in stock, cash
    Peco Energy Co. subsidiary Exelon Infrastructure Services Inc. Thursday reported four acquisitions it termed key to expanding a growing network of infrastructure services companies. EIS said the combined purchase price for the four companies was $95 million in cash and stock.
    Never say never, even when the subject is Saudi Arabia.
  • 06/09/2000 -- Ciba snags BP Amoco packaging additive technology
    BP Amoco Chemicals, a unit of BP Amoco PLC, announced Thursday the sale of its commercial product, Amosorb 2000 oxygen absorber, to Ciba Specialty Chemicals, Tarrytown, NY. Amosorb 2000 is an inorganic-based oxygen absorber developed for use in certain polyolefin packaging, namely polyethylene and polypropylene. The sale excludes BP Amoco Chemicals' development product, Amosorb 3000, which targets polyester packaging applications.
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