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Processing 2001 P10

  • 04/12/2001 -- Enterprise Products positions itself in changing NGL market
    Jim Teague, president and CEO of the NGL division for Enterprise Products, says Enterprise Products Partners LP has invested $1.2 billion in midstream energy assets since its initial public offering in 1998, establishing itself as a major NGL player on the US Gulf Coast.
  • 04/12/2001 -- Finance/Companies news briefs, Apr. 12
    Bouygues Offshore � Kazakhoilkurylys � Premcor � Credit Suisse First Boston � Blackstone Group � Transmeridian Exploration � Tracer Petroleum � Barkley Finance � Hanover Compressor � Daval Industries � and more
  • 04/16/2001 -- Hurricane Hydrocarbons rejects proposed takeover offer
    Hurricane Hydrocarbons Ltd., Calgary, called a proposed takeover offer by Central Asian Industrial Holdings NV (CAIH) "ridiculously low" and said it was in shareholders� best interest to limit CAIH�s stake in Hurricane to 30%. On Apr. 12, CAIH proposed to acquire 18.4 million shares of Hurricane at $10.25 (Can.)/share for a total of $189 million (Can.).
  • 04/17/2001 -- Enron tops first quarter profit predictions
    Energy marketer and trader Enron Corp. Tuesday reported better-than-expected 2001 first quarter earnings on big increases in retail energy services and higher wholesale trading volume. The Houston company also boosted its earnings target to $1.75-1.80/share for the year, up 5�/share. CEO Jeffrey Skilling said on a conference call wholesale and retail services volumes are still expanding rapidly.
  • 04/17/2001 -- Main units at Conoco UK refinery little damaged by fire
    Investigators began sifting through the damage Tuesday to determine what caused an explosion and fire Monday at Conoco Inc.'s large Humber refinery in northern England. But cursory examination indicated little damage to the main segments of the plant, officials said.
  • 04/17/2001 -- Sinopec to invest 40.8 billion yuan in 2001
    China Petroleum & Chemical Corp. (Sinopec) plans to invest 40.8 billion yuan ($4.9 billion) in 2001, as compared with 42.3 billion yuan last year. Sinopec recorded a net profit of 19 billion yuan last year as compared with 4.7 billion yuan in 1999.
  • 04/18/2001 -- Edison Thai affiliate sets up compensation fund
    Gulf Power Generation, 40% owned by Edison Mission, a unit of US-based Edison International, is establishing a $3.3 million (150 million baht) fund to compensate villagers for any impact of a controversial coal-fired power scheme in southern Thailand. Creation of the so-called contingency and emergency fund forms part of the Thai-US joint venture's attempt to get the $700 million project in Prachuab Khiri Khan off the ground.
  • 04/18/2001 -- Market watch: Lack of refinery damage curbs oil futures
    Oil futures prices pulled back Tuesday with indications that damage to a Conoco Inc. refinery in northern England may not be as bad as first feared. The market also reacted in anticipation of a bearish report by the American Petroleum Institute after the close of trade, which showed US crude stocks increased by 7.3 million bbl last week.
  • 04/18/2001 -- Sinopec to build crude storage, pipeline in east China
    China Petroleum & Chemical Corp. (Sinopec) plans to build a crude oil storage facility and a pipeline in eastern China. The tank farm, near Zhenhai Refining & Chemical Co. Ltd. in Ningbo city of Zhejiang province, will store crude oil imported from the Middle East. The 500 km-600 km pipeline will transport the oil to refineries in Shanghai and Jiangsu province.
  • 04/18/2001 -- Elk Point acquiring gas and crude assets in Alberta
    Elk Point Resources Inc., Calgary, has agreed to buy natural gas and light crude assets in the Pembina, Easyford, and Bigoray areas of Alberta for $24.8 million before adjustments of cash flow and interest. Net production from the properties is 2.9 MMcfd gas, 385 b/d of light crude, and 55 b/d of natural gas liquids.
  • 04/18/2001 -- Technip to acquire Brazilian construction company UTC
    French company Technip SA has agreed to acquire UTC Projectos & Consultoría SA, a Brazilian engineering and construction company. Terms and the closing date were not disclosed.
  • 04/18/2001 -- Duke first quarter earnings surprise analysts
    Duke Energy Corp. surprised analysts with first quarter income of $454 million, or 74�/share, compared to $388 million, or 53�/share, for the same period last year. Revenue increased 126% to $16.5 billion from $7.3 billion for the comparable 2000 quarter. Analysts were expecting 58�/share and quizzed executives on a conference call about the source of the 'earnings surprise.'
  • 04/19/2001 -- Processing news briefs, Apr. 19
    Syntroleum Corp. � Penn Octane Corp. ... Frontier Oil Corp.
  • 04/19/2001 -- AltaGas plans $8 million (Can.) gas processing expansions
    AltaGas Services Inc., Calgary, plans an $8 million (Can.) expansion of its natural gas processing capacity by 20 MMcfd with expansions at its Esther and Bantry sour gas plants in Alberta. If granted regulatory approvals, the proposed expansions are expected to be completed this year.
  • 04/20/2001 -- Evidence mounts of a secular recovery under way in refining
    The evidence continues to mount that a secular recovery is under way in the world refining industry.
  • 04/20/2001 -- Market watch: Refined products future prices rise on supply concerns
    Home heating oil and gasoline moved higher on the New York Mercantile Exchange Thursday upon reports of a gasoline unit outage at Valero Energy Corp.'s Corpus Christi, Tex., refinery. Valero said a problem developed early Thursday at its main gasoline unit in the 215,000 b/d refinery, adding executives had no estimate yet on repair schedules.
  • 04/20/2001 -- California governor favors San Jose power plant mayor still opposes
    California Gov. Gray Davis ended months of speculation by throwing his support behind a controversial power plant project that has become the poster child for what's wrong with the state's electricity markets. But the San Jose City Council, Cisco Systems Inc., neighborhood groups, and Mayor Ron Gonzalez remain unmoved in their opposition to the 600 Mw Metcalf plant proposed for an industrial site south of the city.
  • 04/23/2001 -- Brazil rushes to get power plants on line
    Brazil's Mines and Energy Ministry has drafted an emergency plan to complete 13 gas-fired electricity plants operating in simple cycle to increase power supply in Brazil and avoid imminent power rationing. The plants, which are in early stages of construction, will be located close to consumer markets and transmission grids, said the Mines and Energy Ministry.
  • 04/24/2001 -- Market watch: Energy futures close mixed
    Energy futures closed mixed in trading on the New York Mercantile Exchange Monday with gasoline futures advancing slightly upon news that a Valero Energy Corp. refinery gasoline unit in Corpus Christi, Tex., had resumed operations during the weekend. Benchmark US light, sweet crude for June delivery rose by 3¢ to settle at $27.61/bbl while the July contract climbed by 4¢ to end at $27.88/bbl.
  • 04/24/2001 -- Conoco sets earnings record, expects strong second quarter
    Conoco Inc., Houston, reported a fifth consecutive quarter of record earnings and expects a good second quarter as demand for refined products and natural gas remains strong into the summer. Net income was $653 million, or $1.03/share for the first quarter compared with $399 million, or 63¢ a share, for the same period last year
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