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Processing 2000 P9

  • 07/14/2000 -- Tosco to buy Alliance refinery from BP Amoco
    Major independent refiner Tosco Corp., Stamford, Conn., unveiled plans Thursday to buy the Alliance Refinery in Belle Chasse, La., from BP Amoco PLC for $660 million plus hydrocarbon inventories. The acquisition will make Tosco the largest refiner in the US with 1.35 million b/d of wholly owned refining capacity, said Tosco.
  • 07/14/2000 -- Enron retail energy partnership files IPO
    TNPC Inc., the partnership formed by Enron Corp., IBM, and American Online Inc., to sell electricity and gas retail nationwide filed Friday for an initial public offering. The company, formed in mid-May, estimates the value of the offering will be about $400 million.
  • 07/17/2000 -- Indian refinery upgrade planned
    Owners of Madras Refineries Ltd. plan to spend 23.6 billion rupees ($528 million) to modernize the refinery and expand its capacity to 9.5 million tonnes/year from 6.5 million tonnes/year. The project is scheduled to be completed in 36 months. Partners in the project are the Indian government and the National Iranian Oil Co.
  • 07/17/2000 -- AltaGas acquires TransCanada gas plant, pipeline interests
    AltaGas Services Inc., Calgary, is acquiring key natural gas gathering and processing facilities assets in southern Alberta from TransCanada PipeLines Ltd., Calgary, for $14.6 million (Can.). The assets include working interests of 65% in the Parkland gas plant, 70% in the Mosquito Creek gas plant, and 5% in the Vulcan gas plant.
  • 07/17/2000 -- AES to buy IPALCO in $2.15 billion deal
    Indiana utility, IPALCO Enterprises Inc.'s, long search to become a growth company ended Monday. But IPALCO is not buying another utility as it tried to do years before. It�s being bought by much bigger independent power producer AES Corp. IPALCO, an electric utility holding company, will be acquired by AES in a stock-for-stock transaction valued at about $2.15 billion, plus assumption of $890 million of debt.
  • 07/17/2000 -- Pipe leak spills oil in Brazil's Iguacu River
    An estimated 4 million l. of crude oil leaked from an oil pipeline at Petroleo Brasileiro SA's refinery at Araucaria, near Curitiba, the capital of Parana state. The spill began Sunday afternoon and polluted the Iguacu river.
  • 07/18/2000 -- BP Australia to cut refinery workforce
    BP Australia Ltd. is to halve its workforce at the Kwinana refinery, south of Perth in Western Australia. Staff at the refinery will be cut to 200 people from the current 400. This represents a severe drop from the 1,000 employees working at the refinery in the mid-1990s. The move is part of an Australian downstream restructuring strategy aimed at keeping pace with the substantial cost improvements made by competing refineries in Southeast Asia.
  • 07/18/2000 -- Russia proposes new stage in oil industry carve-up
    The Russian Ministry of Property Relations has submitted draft resolutions to the government on the sale of 19.68% of the shares in the Slavneft oil company and 85% of Onako in what could herald a new phase in the carve-up of the Russian oil industry (OGJ, July 3, 2000, p. 30). The government has long been mulling the idea of amalgamating Slavneft, Rosneft, and Onako as a state oil company but has now decided to privatize Onako and Slavneft separately.
  • 07/19/2000 -- Tyumen Oil, Slavneft clash in control struggle
    What started as a struggle for supremacy between two Russian oil companies is now escalating toward an out-and-out war. Slavneft has officially announced plans to acquire stakes in subsidiaries of Tyumen Oil Co. (TNK). The move confirms that the company is struggling to ward off a hostile takeover bid by TNK. TNK has stated that it recently acquired blocking stakes in Slavneft's main subsidiaries and now says that it intends to buy the state-owned holding itself when it is tendered.
  • 07/19/2000 -- Group warns against ETBE ban
    The Clean Fuels Development Coalition Wednesday warned that ethyl tertiary butyl ether (ETBE) should not be included in any ban against the use of methyl tertiary butyl ether (MTBE) in US reformulated gasoline.
  • 07/19/2000 -- PSEG to build 1,186 Mw facility at Linden
    Demonstrating the value of existing permitted sites, PSEG Power LLC, Newark, NJ, said it will build a new, two-unit, 1,186 Mw natural-gas fired combined cycle generating facility at its Linden generating station, Linden, NJ, and retire three 436 Mw oil-fired steam units.
  • 07/19/2000 -- Maoming Petrochemical to expand ethylene cracker
    Guangdong-based Maoming Petrochemical Corp. will submit a feasibility study for expanding its ethylene cracker to its parent company, China Petrochemical Corp. (Sinopec), in August. Plans call for increasing capacity from the current 350,000 tonnes/year to 850,000 tonnes/year by 2003 in a bid to improve the viability of operations by lowering costs and gaining competitiveness in prices.
  • 07/20/2000 -- API says gasoline supplies still tight
    The American Petroleum Institute warned Wednesday that, although prices of gasoline in the upper Midwest have returned to normal levels, supplies remain tight across the US. API Pres. warned that, as long as that the tight supply-demand balance persists, problems in industry operations may cause price volatility.
  • 07/20/2000 -- Tyumen Oil to boost production at Ukraine refinery
    Tyumen Oil Co., Moscow, said Wednesday that it will boost production at the Lisichansk oil refinery (Linos) in the Ukraine. Tyumen signed papers today finalizing the bid of $9.76 million it made at a public auction for a 67.41% interest in the formerly state-owned facility. The company will also assume $63 million in debt.
  • 07/21/2000 -- Mexico's outlook
    The election of a new government may speed the liberalization of the Mexican energy sector.
  • 07/21/2000 -- Ruhr Oel awards refinery construction contract
    Ruhr Oel GMBH this week awarded a contract for a clean-fuels project at one of Germany's largest oil refineries to Fluor Daniel, the engineering and construction unit of Fluor Corp. Fluor Daniel will revamp and upgrade two diesel desulfurizers and construct a new gasoline desulfurizer using a process from French technology provider Institut Fran�s du P�ole. The refineries' utility and infrastructure systems also will be upgraded and modified to accommodate the changes.
  • 07/21/2000 -- W.R. Grace, Tyumen Oil sign catalyst marketing agreement
    W.R. Grace & Co., Columbia, Md., and Russia's Tyumen Oil Co. said Wednesday that they've agreed to market hydroprocessing catalysts in Eastern Europe and the former Soviet Union.
  • 07/21/2000 -- Electric Power news briefs, July 21
    Midwest Independent Transmission System Operator ... ALSTOM ESCA Corp. ... Open Access Technology International ... Perot Systems ... TenFold Corp. ... New Jersey Board of Public Utilities ... Florida Power & Light Co. ... Broken Hill Pty. Co. Ltd. ... ABB Group ... Petrofac International Ltd. ... GPU Energy ... AmerGen Energy Co ... British Energy Inc. ... PECO Energy Co. ... Cross Bay Pipeline Co. LLC ... Williams ... Duke Energy ... KeySpan Corp. ... Elizabethtown Gas Co. ... Nooter/Eriksen
  • 07/24/2000 -- Williams mulls telecom spinoff
    Tulsa-based Williams Sunday said the board of directors Sunday authorized management to pursue a course of action that could lead to a complete separation of the company's energy and communications businesses. Keith E. Bailey, chairman, president, and chief executive officer, said that, while no specific course of action has been determined, the process would take no more than 18 months.
  • 07/24/2000 -- Mexico President-elect Fox to focus first on electricity, petrochemical reforms
    Just 2 weeks after Vicente Fox dramatically won Mexico's presidential elections and unseated the Institutional Revolutionary Party from the national government for the first time in over 70 years, the president-elect's transition team has already indicated that they will seek a further opening to private investment in Mexico's energy sector. It's an open question, however, whether Fox will have the political clout to undertake additional reforms in the state-run petroleum company Pemex.
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