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Processing 2001 P

  • 07/03/2001 -- US poll shows public blames industry for gasoline 'rip-off'
    An "overwhelming majority" -- 87% -- of the US public believes oil companies are "ripping off" consumers with high gasoline prices this summer, according to a Harris Poll released Tuesday. A plurality, 42%, said the industry is "mainly to blame" for increased fuel prices.
  • 07/03/2001 -- ExxonMobil brings $2 billion petrochemical complex on stream
    Units of ExxonMobil Corp. have brought on stream a $2 billion petrochemical facility on Singapore's Jurong Island. The complex, which is integrated with ExxonMobil's refinery in Singapore, is now producing petrochemical products. Over the next few months, the project will complete testing and ramp up to full capacity.
  • 07/03/2001 -- Technip makes unsolicited offer to acquire Coflexip, Isis
    Engineering and construction contractor Technip SA made what it termed a friendly unsolicited offer for Coflexip SA and the Isis holding company. The deal would create Technip-Coflexip, a "world-class leader in oil and gas engineering, products, and solutions," said Technip, that would have the largest oil and gas services market capitalization in Europe.
  • 07/02/2001 -- US consumer group blames oil mergers, consolidations for higher prices
    The Consumer Federation of America said Monday recent mergers and consolidations have meant industry can more easily manipulate and profit from price fluctuations. An industry group replied that poorly executed regulations are to blame for higher prices.
  • 07/02/2001 -- OPEC expected to leave production unchanged at Tuesday meeting
    The Organization of Petroleum Exporting Countries is expected to leave its output levels unaltered when it meets Tuesday in Vienna for its second extraordinary meeting in the last month, despite Iraq's export halt. However, OPEC's decision to keep output at 24.2 million b/d would fly in the face of warnings from many oil industry observers.
  • 07/02/2001 -- MMS prepares for streamlined royalty collection system this fall
    US Minerals Management Service official Lucy Denett says a streamlining of the royalty collection system this fall will make the process more efficient for both the government and oil producers.
  • 06/29/2001 -- Saudi Arabian Oil Co. awards Technip NGL train contract
    Saudi Arabian Oil Co. has awarded Technip SA a lump sum, turnkey contract for the installation of a 100 MMscfd natural gas liquids compression train and associated facilities in an existing plant.
  • 06/29/2001 -- Twarted urge to merge
    Industrial logic-some commixture of synergies and corporate survivalism-would appear to make an open-and-shut case for a full-scale, three-way merger among the leading regional oil and gas companies in central and eastern Europe, namely Poland's PKN Orlen, Hungary's MOL Rt., and Austria's OMV AG. Yet the formula that would fuse this trio together is stuck at the theoretical stage.
  • 06/28/2001 -- California exempts oil refineries from electrical blackouts
    The California Public Utilities Commission Thursday voted 5-0 to exempt the state's refineries from rotating electrical outages this summer. Refiners had petitioned the PUC for waivers after a commission rule in April failed to give them automatic exemptions from blackouts.
  • 06/28/2001 -- Bolivian company to build Rentech-technology GTL plant
    GTL Bolivia SA has signed a memorandum of understanding with Rentech Inc., Denver, to use its proprietary gas-to-liquids technology. After execution of a definitive licensing agreement, GTLB will begin designing a 10,000-b/d gas-to-liquids plant to be built in Bolivia.
  • 06/28/2001 -- Pakistan seeks investors for exploration and development
    Pakistan is looking for international investors to increase drilling activity in that country so that it can essentially double its production of oil and natural gas by 2012, said government officials said Thursday in Houston.
  • 06/27/2001 -- API says US gasoline prices are 20% off May peak
    The American Petroleum Institute said Wednesday that US gasoline prices dropped another 6¢/gal to an average of $1.538/gal (including taxes) during the week of June 22. API said the price of a gallon of regular gasoline is now almost 20¢/gal below May's high.
  • 06/27/2001 -- Air Products brings hydrogen plant on stream at Port Arthur
    Air Products and Chemicals Inc., Lehigh Valley, Pa., has started a 100 MMscfd hydrogen plant at Port Arthur, Tex. and is supplying hydrogen, steam, and power to Premcor Refining Group Inc.'s adjacent 250,000-b/d refinery.
  • 06/27/2001 -- Shell Nederland to build benzene unit
    Shell Nederland Chemie BV will invest more than $25 million in a benzene extraction unit at its petrochemical facility at Moerdijk, the Netherlands, said Shell Chemicals Ltd.
  • 06/27/2001 -- BP's Browne sees no problems with US refining capacity
    John Browne, BP PLC group chief executive, Tuesday said the US does not need any more refineries. The US imports more than 2 million b/d of products. Browne said the best US refineries are getting bigger and more efficient, through debottlenecking and technological improvements.
  • 06/27/2001 -- China to more than double sour crude processing capacity by 2005
    Under a 5-year energy development plan, China plans to raise its sour crude refining capacity to 75 million tonnes/year by 2005, up from 30 million tonnes at the end of 2000. Sour processing capacity will make up 28% of the 270 million tonnes/year crude distillation capacity planned by 2005.
  • 06/26/2001 -- Processing news briefs, June 26
    Petrovietnam ... Technip ... Samsung Engineering ... Equistar Chemicals ... Syntroleum ... Tessag ... Enron ... Ivanhoe Energy
  • 06/26/2001 -- US House Committee votes to block Gulfstream pipeline
    The US House Committee on Appropriations Monday voted to block the construction of the Gulfstream pipeline project from Mobile Bay, Ala., across the Gulf of Mexico to central Florida. A Gulfstream spokesman said the attempt is symbolic, because construction has already begun.
  • 06/25/2001 -- Coal-fired generation trims gas use, analyst says
    If the current pace of coal use continues, it could displace up to one-half the previously predicted increased demand for gas-fired electric generation this summer, said a Houston analyst. Rising utilization at coal plants is just one of the factors helping keep the lid on gas prices.
  • 06/25/2001 -- Chevron Phillips, Qatar Petroleum to build petrochemical plant
    Chevron Phillips Chemical Co. and Qatar Petroleum plan to build a petrochemical plant at Ras Laffan in Qatar, said the two companies. The project involves a 1.2 million tonne/year ethylene cracker, a 750,000 tonne/year polyethylene plant, and associated utilities and offsite facilities.
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