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Processing 2000 P6

  • 06/09/2000 -- Drilling/Production news briefs, June 9
    Akita Drilling ... Akita/Equtak Drilling ... Inuvialuit Development Corp. ... Yukos ... Sulzer Pumps UK
  • 06/09/2000 -- corrected: Enron to up Syntroleum plant investment
    Enron North America, a wholly owned subsidiary of Enron Corp., signed a nonbinding letter of intent to invest another $20 million in equity in Syntroleum Corp.'s Sweetwater project, a 10,000 b/d Australian plant to convert natural gas into synthetic specialty products now under construction. Syntroleum also announced plans for an equity sale to raise money for the plant.
  • 06/09/2000 -- UK utility awards $100 million CHP contract
    UK utility Scottish & Southern Energy PLC awarded ABB Group a $100 million contract for 10 combined heat and power (CHP) plants. ABB will build the small-scale natural gas-fired plants throughout the UK and operate and maintain them for 17 years.
  • 06/12/2000 -- Thai power plant valued at $1.5 billion
    The 3,200 Mw Ratchaburi gas-fired electric generation station has been appraised at about $1.5 billion (56.179 billion baht) in preparation for its sale to Ratchaburi Electricity Generating Holding Co. by Electricity Generating of Thailand. About 40% of the company's share will be sold in an initial public offering in October; the shares will be listed on the Stock Exchange of Thailand.
  • 06/12/2000 -- Petrofac Resources proposes refinery company purchase
    Petrofac Resources International Ltd. has signed a letter of intent with Kyrgoil Corp., Calgary, under which Petrofac will purchase 50% of Kyrgyz Petroleum Co., a unit of Kyrgoil and operator of an oil refinery in the Kyrgyz Republic.
  • 06/12/2000 -- Maryland approves power capacity transfer plan
    The Maryland Public Service Commission approved Allegheny Energy Inc.'s plan to transfer about 1,300 Mw worth of generating capacity from its Potomac Edison subsidiary to its nonregulated energy supply affiliate Allegheny Energy Supply Co. LLC at book value. The US Federal Energy Regulatory Commission and the US Securities and Exchange Commission still must approve the transaction.
  • 06/13/2000 -- Processing news briefs, June 13
    Hawks Industries � Blue Star Sustainable Technologies ... Polibrasil ... Montell ... Suzano
  • 06/14/2000 -- EnronOnline to offer pipeline capacity
    Enron Corp. said its interstate natural gas pipelines will begin offering capacity on its EnronOnline electronic platform. Transwestern Pipeline Co. will be the first of Enron's pipelines to offer capacity for bidding through an open season conducted on EnronOnline.
  • 06/15/2000 -- Ranger Oil Ltd. agrees to Canadian Natural Resources offer
    Ranger Oil Ltd., Calgary, on Thursday said it has reached an agreement with Calgary-based Canadian Natural Resources Ltd. under which Canadian Natural will make an offer to purchase all of Ranger's outstanding common shares. Ranger's board of directors say they're recommending that Ranger shareholders accept the Canadian Natural offer.
  • 06/15/2000 -- Japanese processing companies press ahead with integration
    Japan's refining and petrochemical companies are pressing ahead with integration of their production facilities under the Ministry of International Trade and Industry's (MITI) petrochemical industry restructuring program, the so-called Renaissance Project. However, analysts and industry sources warn that the integration will not solve the primary problem facing both refiners and petrochemical producers, namely overcapacity.
  • 06/16/2000 -- Electric Power news briefs, June 16
    PPL Global ... CEMAR ... US Propane ... Heritage Holdings ... NYMEX ... RealEnergy ... Alabama Power
  • 06/16/2000 -- India removes refining sector investment hurdles
    The Indian government June 13 raised the foreign direct investment (FDI) ceiling to 100% in the crucial petroleum refining and e-commerce sectors and abolished the 15 billion rupee investment limit in the power sector as part of its efforts to boost private participation in infrastructure. In the oil refining and e-commerce sectors, only 49% FDI was allowed previously. In effect, the move is ushering in a more liberal FDI regime through the so-called 'automatic route.'
  • 06/16/2000 -- India removes power sector investment hurdles
    The Indian government abolished the 15 billion rupee investment limit in the power sector as part of its efforts to boost private participation in infrastructure and raised the foreign direct investment (FDI) ceiling to 100% in the crucial petroleum refining industry. In the oil refining and e-commerce sectors, only 49% FDI was allowed previously.
  • 06/20/2000 -- Thai power plant draws huge crowd
    Eastern Power & Electricity Co. (EPEC), an international consortium, looks set to build a $250 million gas-fired electric generating plant in Thailand. Some 2,000 people have registered to participate in a state-arranged public hearing, though only half are expected to turn up.
  • 06/20/2000 -- IOC to buy term crude from Nigeria
    State-owned Indian Oil Corp. (IOC) says it soon will sign an agreement with Nigeria to buy 6 million tonnes of term crude before March 2001. The decision follows closely a term pact between IOC and Malaysia for the purchase of 1.5 million tonnes of Tapis and Miri crude.
  • 06/20/2000 -- China bolsters olefins output on strong demand
    China's olefins production registered strong gains in the first 5 months of this year on strong demand for downstream derivatives such as polyethylene. Production will likely be boosted further as China recently banned polyethylene imports from South Korea.
  • 06/20/2000 -- US EPA considers waiving summertime RFG specs
    Last week the Clinton administration asked the US Federal Trade Commission to investigate high gasoline prices in the Chicago and Milwaukee metropolitan areas, and administration officials met with refiners to discuss the situation. Now the US Environmental Protection Agency is considering whether to waive rules requiring summertime reformulated gasoline�with its reduced volatility specifications�and allow refiners to sell conventional gasoline until the crisis passes.
  • 06/21/2000 -- Processing news briefs, June 21
    BP Amoco PLC � OneChem � CCL Oil � Mangistaumunaigaz
  • 06/21/2000 -- DOE funding gas stripper water disposal test
    The US Department of Energy will help fund a project to test a coal-based filtering material that could slash the cost of waste water disposal from stripper gas wells. The test will be at the Rosebud SynCoal demonstration plant near Colstrip, Mont., built under DOE's Clean Coal Technology Program.
  • 06/22/2000 -- API blames Midwest gasoline price spike on supply crunch
    The American Petroleum Institute Wednesday rejected the charge that anticompetitive behavior by oil companies is behind sharp gasoline price increases in the Milwaukee and Chicago areas (OGJ Online, June 20, 2000). API Pres. Red Cavaney said, 'During times of volatility in gasoline markets, it is not unusual for investigations of our industry to be launched. Our record of being exonerated by those investigations is spotless.'

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