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Processing 2001 P

  • 06/21/2001 -- Regional European oil companies will merge 'in the long run'
    The economic rationale for consolidation of the dominant oil and gas companies of Poland, Hungary, and Austria is still insufficient to tip the scales in favor of a full-scale merger, according to a report by Raiffeisen Zentralbank Österreich AG. It said a combination of PKN Orlen, MOL Rt., and OMV AG would create a company with broad synergies but national pride prevents merger discussions.
  • 06/20/2001 -- Tricor Refining group buys Golden Bear Oil Specialties
    Tricor Refining LLC has purchased the 12,500-b/d Golden Bear Oil Specialties Inc. refinery in Bakersfield, Calif. Tricor is an acquisition entity formed by Ergon Inc. 50%, San Joaquin Refining Inc. 25%, and Tricor Energy LLC 25%/
  • 06/20/2001 -- Taylor plans ethane extraction plant in Alberta
    Taylor NGL LP Wednesday said it would build a $45 million (Can.) natural gas liquids extraction plant at Joffre, Alta. The Joffre Ethane Extraction Plant (JEEP) will be near NOVA Chemicals:Ltd.'s world-scale Joffre petrochemical complex.
  • 06/19/2001 -- Texaco Inc. refinery fire in Pembrokeshire, Wales, affects only one unit
    Texaco Inc. Tuesday reported a brief fire at its 190,000 b/d refinery in Pembrokeshire, Wales, affected only one unit and that the rest of the refinery was working normally. The fire was in a unifiner unit used for making naphtha, a spokeswoman told OGJ Online, adding the fire was brought quickly under control and there were no casualties and no reports of anyone missing.
  • 06/19/2001 -- PanCanadian signs firm service agreement for Deep Panuke gas
    PanCanadian Petroleum Ltd. has made another step toward the $1 billion development of Deep Panuke natural gas field 250 km off Nova Scotia. It signed a firm service agreement with Maritimes & Northeast Pipeline LLC to transport up to 400 MMcfd of gas for 10 years.
  • 06/19/2001 -- Shell Hydrogen and International Fuel Cells establish fuel-processing JV
    Shell Hydrogen US, a division of Shell Oil Products Co., and International Fuel Cells (IFC), a unit of United Technologies Corp., Tuesday announced the formation of HydrogenSource LLC. The 50:50 joint venture will develop, manufacture, and sell fuel processors and hydrogen generation systems for fuel cell and hydrogen fuel applications.
  • 06/19/2001 -- PetroChina to double capacity at Dalian refinery over 5 years
    PetroChina Co. Ltd. plans to double the refining capacity of Dalian West Pacific Petrochemical Co. in northeastern China's Dalian City to 10 million tonnes/year. The company will build a few new units over the next 5 years.
  • 06/15/2001 -- Williams and Yukos planning deal with Lithuanian oil company
    The international unit of Williams, Tulsa, and OAO Yukos, Moscow, signed a cooperative agreement to work toward a transaction involving Yukos' purchase of equity in Lithuanian oil company Mazeikiu Nafta for $75 million. Williams and Yukos also want to arrange a long-term crude supply agreement for the 263,420 b/d Mazeikiu Nafta refinery.
  • 06/15/2001 -- Tyumen creates Urals subsidiary, may build refinery
    Russian company Tyumen Oil Co. has created a subsidiary, Urals Oil Co. Ural Oil will develop oil fields in the Chernorechensk section of the Tavdinsk region and the Iusk and Katylinsk fields located on the border between the Sverdlovsk and Khanty-Mansiisk regions.
  • 06/15/2001 -- Market watch: Uncertainty leaves energy futures mixed
    Energy futures prices were mixed Thursday, as international traders tried to divine which direction the markets may move next. The July contract for benchmark US light, sweet crudes recovered 20¢ to $29.04/bbl on the New York Mercantile Exchange.
  • 06/15/2001 -- EIA says blackouts could shut in 27% of California refining capacity
    About 75% of the refining capacity in California could be forced to either reduce operating rates or shut down if rolling blackouts should affect the refineries' electric supply, a study by the US Energy Information Administration said.
  • 06/15/2001 -- US refining: cycle or secular change?
    Is US refining in just another cycle or headed for secular change? The jury's still out.
  • 06/14/2001 -- Sen. Wyden urges gasoline-pricing inquiry, based on oil company memos
    The US Senate should hold an investigation to see if oil companies sought to reduce refining capacity to drive up retail prices, Sen. Ron Wyden (D-Ore.) said Thursday. Wyden said internal oil company documents raised "serious questions about anticompetitive and anticonsumer practices among oil companies."
  • 06/14/2001 -- EPA looks for ways to streamline reformulated gasoline specifications
    Retooling clean fuel legislation is under consideration by the White House and Congress as energy issues continue to dominate the domestic policy agenda. EPA officials Thursday said they are meeting with refiners and states to look at ways to streamline reformulated gasoline specifications.
  • 06/14/2001 -- Peru's president-elect plans to revive Petroperu privatization push
    Peru's President-elect Alejandro Toledo plans to revive the privatization of Peru's state petroleum company, said Pedro Pablo Kuczynski, head of Toledo's economy commission formed to coordinate the transfer of the new government. The Toledo administration takes office July 28.
  • 06/14/2001 -- Market watch: Energy futures prices fall in international markets
    Energy futures prices across the board fell in international markets Wednesday. The July contract for benchmark US light, sweet crudes dropped 34¢ to $28.84/bbl on the New York Mercantile Exchange.
  • 06/13/2001 -- Lyondell-Citgo refining units to be fully operating by middle of next week
    Lyondell Chemical Co. Wednesday said all refining units at Lyondell-Citgo Refining LP near Houston are expected to be fully operational by the middle of next week. This will allow LCR to return to full crude oil processing rates of 260,000 b/d. A coker unit had been down because of a flash fire and power failures associated with Tropical Storm Allison.
  • 06/13/2001 -- California an 'accident waiting to happen' US Senate committee told
    California's electricity problems were an accident waiting to happen, with the first telltale signs of trouble emerging in 1998, Paul Jaskow, director of the Massachusetts Institute of Technology Center for Energy and Environmental and Policy Research told the US Senate Governmental Affairs Committee. Committee Chairman Joseph Lieberman (D-Conn.) called the hearings to look into federal regulators performance in keeping prices 'just and reasonable' in the West.
  • 06/13/2001 -- US refiners set gasoline production record during May
    A record volume of gasoline, 8.571 million b/d, was produced during May, the American Petroleum Institute said Wednesday. It said the nation's nearly maxed-out refineries put more crude and other petroleum inputs into refinery units than in any previous May, an average of 15.833 million b/d.
  • 06/12/2001 -- Purvin & Gertz foresees $6/MMbtu pipeline acquisition price in December
    The monthly average pipeline acquisition price of natural gas on the US Gulf Coast will rise to $4.80/MMbtu in August, slump during the "shoulder month" of September, and peak at $6/MMbtu in December, Purvin & Gertz has forecast.

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